Special Opportunities Fund (SPE) Declares $0.09 Dividend

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Special Opportunities Fund said on September 15, 2023 that its board of directors declared a regular monthly dividend of $0.09 per share ($1.04 annualized). Previously, the company paid $0.09 per share.

Shares must be purchased before the ex-div date of October 19, 2023 to qualify for the dividend. Shareholders of record as of October 20, 2023 will receive the payment on October 31, 2023.

At the current share price of $11.15 / share, the stock’s dividend yield is 9.33%.

Looking back five years and taking a sample every week, the average dividend yield has been 9.09%, the lowest has been 6.17%, and the highest has been 14.32%. The standard deviation of yields is 1.86 (n=195).

The current dividend yield is 0.13 standard deviations above the historical average.

The company’s 3-Year dividend growth rate is -0.08%.

What is the Fund Sentiment?

There are 37 funds or institutions reporting positions in Special Opportunities Fund. This is a decrease of 4 owner(s) or 9.76% in the last quarter. Average portfolio weight of all funds dedicated to SPE is 0.33%, an increase of 9.88%. Total shares owned by institutions decreased in the last three months by 2.64% to 4,069K shares.

What are Other Shareholders Doing?

Relative Value Partners Group holds 1,692K shares. In it’s prior filing, the firm reported owning 1,710K shares, representing a decrease of 1.07%. The firm decreased its portfolio allocation in SPE by 3.56% over the last quarter.

Rivernorth Capital Management holds 378K shares. In it’s prior filing, the firm reported owning 350K shares, representing an increase of 7.57%. The firm increased its portfolio allocation in SPE by 14.44% over the last quarter.

Css holds 270K shares. No change in the last quarter.

Blue Bell Private Wealth Management holds 258K shares. In it’s prior filing, the firm reported owning 252K shares, representing an increase of 2.10%. The firm decreased its portfolio allocation in SPE by 7.50% over the last quarter.

Rivernorth Opportunities Fund holds 226K shares. No change in the last quarter.

Special Opportunities Fund Background Information
(This description is provided by the company.)

Special Opportunities Fund, Inc. (formerly, Insured Municipal Income Fund Inc.) was incorporated in Maryland on February 19, 1993, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended, as a closed-end diversified management investment company. Effective December 21, 2009, the Fund changed its name to the Special Opportunities Fund, Inc. and effective January 25, 2010 changed its investment objective to total return. The Fund’s investment advisor, Bulldog Investors LLC, employs an opportunistic investment philosophy with a particular emphasis on investing in discounted closed-end funds, undervalued operating companies, and other attractive special situations including risk arbitrage and distressed securities.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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