Cetera Investment Advisers Takes $293,000 Position in Special Opportunities Fund, Inc. $SPE

Key Points

• Cetera Investment Advisers has acquired approximately 19,530 shares of Special Opportunities Fund, Inc., valued at around $293,000, representing a 0.17% ownership.
• Other institutional investors, including Oppenheimer & Co. Inc. and NBC Securities Inc., have also significantly increased their stakes in Special Opportunities Fund in recent quarters.
• The fund announced a dividend of $0.1098 per share, resulting in an extraordinarily high dividend yield of 848.0%, to be distributed on August 29th.

Cetera Investment Advisers bought a new position in shares of Special Opportunities Fund, Inc. (NYSE:SPE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,530 shares of the closed-end fund's stock, valued at approximately $293,000. Cetera Investment Advisers owned 0.17% of Special Opportunities Fund as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SPE. Raymond James Financial Inc. bought a new position in Special Opportunities Fund in the fourth quarter worth approximately $453,000. Quarry LP purchased a new stake in shares of Special Opportunities Fund in the 4th quarter worth $44,000. CF Capital LLC purchased a new stake in shares of Special Opportunities Fund in the 4th quarter worth $402,000. K2 Principal Fund L.P. bought a new position in shares of Special Opportunities Fund during the 4th quarter worth $146,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Special Opportunities Fund during the fourth quarter valued at $439,000. Institutional investors own 35.60% of the company's stock.

Special Opportunities Fund Stock Performance

Shares of SPE stock traded up $0.29 on Friday, hitting $15.65. The stock had a trading volume of 30,494 shares, compared to its average volume of 29,431. The business has a 50 day moving average price of $15.41 and a 200 day moving average price of $15.09. Special Opportunities Fund, Inc. has a one year low of $12.72 and a one year high of $15.87.

Special Opportunities Fund Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.1098 per share. This represents a yield of 848.0%. The ex-dividend date is Tuesday, August 19th.

Special Opportunities Fund Profile

Special Opportunities Fund, Inc is a close-ended balanced fund of funds launched and managed by Bulldog Investors, LLC. It invests in close-ended funds investing in public equity and fixed income markets. The fund employs a combination of value, opportunistic and special situations strategies to make its investments.