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 business’s stock in a transaction on 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 directly owned 6,064 shares of the company’s stock, valued at $88,898.24. This trade represents a 40.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Special Opportunities Fund Stock Performance

Special Opportunities Fund stock traded up $0.10 during mid-day trading on Wednesday, hitting $14.71. 47,258 shares of the company’s stock were exchanged, compared to its average volume of 37,157. The company’s 50 day simple moving average is $15.23 and its 200-day simple moving average is $15.40. Special Opportunities Fund, Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $15.98.

Special Opportunities Fund Increases Dividend

The firm 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 is an increase from Special Opportunities Fund’s previous monthly dividend of $0.11. This represents a c) dividend on an annualized basis and a dividend yield of 57.1%. The ex-dividend date of this dividend is Monday, December 29th.

Institutional Trading of Special Opportunities Fund

A number of large investors have recently bought and sold shares of the business. Shaker Financial Services LLC raised its holdings in Special Opportunities Fund by 246.0% during the 2nd quarter. Shaker Financial Services LLC now owns 266,728 shares of the closed-end fund’s stock worth $4,132,000 after buying an additional 189,630 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Special Opportunities Fund in the first quarter valued at approximately $1,681,000. TrueMark Investments LLC acquired a new position in shares of Special Opportunities Fund in the third quarter valued at approximately $226,000. Wolverine Asset Management LLC bought a new stake in shares of Special Opportunities Fund during the third quarter worth $112,000. Finally, Scotia Capital Inc. raised its holdings in shares of Special Opportunities Fund by 6.6% during the second quarter. Scotia Capital Inc. now owns 105,746 shares of the closed-end fund’s stock worth $1,638,000 after acquiring an additional 6,531 shares during the period. 35.60% of the stock is owned by 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.