Special Opportunities Fund, Inc. Plans Monthly Dividend of $0.11 (NYSE:SPE)

Special Opportunities Fund, Inc. (NYSE:SPE) announced a monthly dividend on Friday, January 2nd. Shareholders of record on Tuesday, February 17th will be given a dividend of 0.1087 per share by the closed-end fund on Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 8.7%. The ex-dividend date is Tuesday, February 17th.

Special Opportunities Fund Stock Performance

Shares of SPE opened at $15.04 on Friday. Special Opportunities Fund has a 1 year low of $12.72 and a 1 year high of $15.98. The stock’s fifty day moving average price is $15.05 and its two-hundred day moving average price is $15.29.

Insider Transactions at Special Opportunities Fund

In other Special Opportunities Fund news, President Andrew Dakos sold 4,098 shares of the stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $14.66, for a total transaction of $60,076.68. Following the completion of the transaction, the president owned 6,064 shares in the company, valued at $88,898.24. This trade represents a 40.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.13% of the company’s stock.

Institutional Trading of Special Opportunities Fund

A number of institutional investors have recently modified their holdings of SPE. Shaker Financial Services LLC grew its stake in Special Opportunities Fund by 33.0% in the 3rd quarter. Shaker Financial Services LLC now owns 354,678 shares of the closed-end fund’s stock valued at $5,498,000 after buying an additional 87,950 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Special Opportunities Fund by 2.0% during the second quarter. Advisors Asset Management Inc. now owns 114,199 shares of the closed-end fund’s stock worth $1,769,000 after acquiring an additional 2,294 shares in the last quarter. Scotia Capital Inc. boosted its holdings in shares of Special Opportunities Fund by 1.2% in the third quarter. Scotia Capital Inc. now owns 107,016 shares of the closed-end fund’s stock worth $1,659,000 after acquiring an additional 1,270 shares during the period. Raymond James Financial Inc. grew its position in shares of Special Opportunities Fund by 7.2% in the second quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock valued at $483,000 after purchasing an additional 2,082 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Special Opportunities Fund by 8.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 26,167 shares of the closed-end fund’s stock valued at $405,000 after purchasing an additional 1,970 shares during the period. 35.60% of the stock is currently owned by hedge funds and other institutional investors.

About Special Opportunities Fund

Special Opportunities Fund (NYSE: SPE) is a closed-end management investment company that seeks to deliver attractive total return by investing across corporate capital structures. The fund primarily allocates capital to debt and equity securities of both public and private issuers, with a focus on special situations, distressed credits and event-driven opportunities.

The fund’s flexible, multi-asset strategy allows portfolio managers to shift allocations among high-yield bonds, leveraged loans, convertible securities, preferred stock and equity positions.