106,337 Special Opportunities Fund, Inc. $SPE Shares Sold by Shaker Financial Services LLC

Key Points

• Shaker Financial Services cut its Special Opportunities Fund stake by 16%, selling 106,337 shares in the third quarter. It still held 558,655 shares, representing 5.26% of SPE and a position valued at approximately $7.06 million.
• Institutional investors and hedge funds own 35.6% of SPE, with several firms either initiating positions or increasing their holdings during recent quarters.
• SPE traded at $12.38, near its one-year low, while the fund announced a monthly dividend of $0.1087 per share. The annualized payout of about $1.30 implies a 10.5% dividend yield.

Shaker Financial Services LLC reduced its stake in Special Opportunities Fund, Inc. (NYSE:SPE - Free Report) by 16.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 558,655 shares of the closed-end fund's stock after selling 106,337 shares during the period. Special Opportunities Fund accounts for about 2.3% of Shaker Financial Services LLC's holdings, making the stock its 6th biggest position. Shaker Financial Services LLC owned 5.26% of Special Opportunities Fund worth $7,061,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. TrueMark Investments LLC boosted its holdings in shares of Special Opportunities Fund by 8.7% in the 1st quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund's stock valued at $223,000 after buying an additional 1,293 shares in the last quarter. SkyView Investment Advisors LLC purchased a new position in shares of Special Opportunities Fund in the 2nd quarter valued at $44,000. Susquehanna International Group LLP raised its stake in Special Opportunities Fund by 30.6% during the 2nd quarter. Susquehanna International Group LLP now owns 15,435 shares of the closed-end fund's stock worth $208,000 after acquiring an additional 3,614 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Special Opportunities Fund during the 2nd quarter worth $50,000. Finally, Detalus Advisors LLC acquired a new stake in Special Opportunities Fund during the 1st quarter worth $144,000. Institutional investors and hedge funds own 35.60% of the company's stock.

Special Opportunities Fund Price Performance

SPE traded down $0.18 on Wednesday, reaching $12.38. The company had a trading volume of 36,999 shares, compared to its average volume of 40,659. Special Opportunities Fund, Inc. has a 1 year low of $12.40 and a 1 year high of $15.59. The stock has a 50-day moving average price of $13.19 and a 200-day moving average price of $13.58.

Special Opportunities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 22nd will be given a dividend of $0.1087 per share. The ex-dividend date is Tuesday, December 22nd. This represents a $1.30 dividend on an annualized basis and a dividend yield of 10.5%.

Special Opportunities Fund Company Profile

Special Opportunities Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol SPE. The fund seeks to provide investors with total return through a flexible, opportunistic investment strategy rather than focusing on a single industry or geographic market.

The fund primarily invests in other closed-end funds and may also invest in business development companies, special purpose acquisition companies, and other publicly traded securities.

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