Andrew Dakos Sells 4,098 Shares of Special Opportunities Fund (NYSE:SPE) Stock

Special Opportunities Fund, Inc. (NYSE:SPE) President Andrew Dakos sold 4,098 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $14.66, for a total value of $60,076.68. Following the completion of the sale, the president owned 6,064 shares of the company’s stock, valued at $88,898.24. This trade represents a 40.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Special Opportunities Fund Trading Up 0.7%

Shares of Special Opportunities Fund stock opened at $14.71 on Friday. The business’s 50 day moving average price is $15.20 and its 200 day moving average price is $15.39. Special Opportunities Fund, Inc. has a one year low of $12.72 and a one year high of $15.98.

Special Opportunities Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, December 29th will be given a dividend of $0.70 per share. This represents a c) annualized dividend and a dividend yield of 57.1%. The ex-dividend date of this dividend is Monday, December 29th. This is a positive change from Special Opportunities Fund’s previous monthly dividend of $0.11.

Hedge Funds Weigh In On Special Opportunities Fund

A number of institutional investors have recently bought and sold shares of SPE. MAI Capital Management grew its stake in shares of Special Opportunities Fund by 38.6% in the 3rd quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock valued at $81,000 after buying an additional 1,450 shares during the period. Wolverine Asset Management LLC acquired a new position in Special Opportunities Fund in the third quarter valued at approximately $112,000. K2 Principal Fund L.P. grew its position in Special Opportunities Fund by 18.8% in the first quarter. K2 Principal Fund L.P. now owns 11,878 shares of the closed-end fund’s stock worth $178,000 after acquiring an additional 1,878 shares during the period. TrueMark Investments LLC acquired a new stake in Special Opportunities Fund during the third quarter worth $226,000. Finally, Cetera Investment Advisers increased its stake in Special Opportunities Fund by 19.5% during the second quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock worth $362,000 after acquiring an additional 3,811 shares during the last quarter. 35.60% of the stock is owned by hedge funds and other institutional investors.

Special Opportunities Fund Company Profile

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.