Clough Global Opportunities Fund Short Interest Plummets 59.8%

The short interest in the Clough Global Opportunities Fund (NYSEAMERICAN:GLO) experienced a significant decline of 59.8% in December 2023. As of December 31, the total short interest stood at just 35,063 shares, down from 87,152 shares on December 15. This shift results in a days-to-cover ratio of 0.2 days, based on an average trading volume of 144,548 shares.

Insider Activity and Institutional Investments

In related news, insider Charles Clough, Jr. purchased 35,000 shares of the fund on January 15, 2024, at an average price of $6.01 per share. This transaction, valued at $210,350, increased his ownership to 394,245 shares, approximately worth $2,369,412.45. This acquisition marks a 9.74% increase in his position. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission.

Over the past three months, insiders have collectively acquired 36,213 shares of the fund, amounting to an investment of $217,624. This insider activity reflects a growing confidence in the fund’s potential.

Several hedge funds and institutional investors have also adjusted their stakes in the Clough Global Opportunities Fund recently. Notably, Pathstone Holdings LLC established a new position valued at approximately $6,861,000 during the third quarter. Additionally, North Ground Capital increased its investment by 118.8%, acquiring 514,434 shares and bringing its total holdings to 947,362 shares, valued at around $5,400,000. Other significant transactions include new positions taken by Alpine Global Management LLC and Shaker Financial Services LLC, along with TrueMark Investments LLC, further diversifying institutional interest in the fund.

Dividend Announcement and Fund Overview

In a positive development for investors, the Clough Global Opportunities Fund declared a monthly dividend of $0.0537, set to be distributed on March 31, 2024. Those on record as of March 18 will receive this dividend, which translates to an annualized yield of 10.7%. The ex-dividend date is also set for March 18.

The Clough Global Opportunities Fund is a closed-end management investment company that aims to provide attractive risk-adjusted returns by focusing on income generation and capital appreciation. It primarily invests in global equity securities across sectors such as energy, utilities, transportation, chemicals, and other infrastructure-related industries. The fund’s strategy hinges on thorough bottom-up research and fundamental analysis, catering to investors seeking exposure to both developed and emerging markets.

By concentrating on critical sectors for global economic growth, the fund remains positioned to offer diverse investment opportunities while responding to fluctuating market conditions. As institutional interest rises and insider confidence grows, the Clough Global Opportunities Fund continues to garner attention in the financial landscape.