Cetera Investment Advisers Invests $293,000 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 purchased a new stake in Special Opportunities Fund, Inc. (NYSE:SPE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 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 & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SPE. Raymond James Financial Inc. acquired a new position in Special Opportunities Fund in the fourth quarter valued at approximately $453,000. Jefferies Financial Group Inc. acquired a new position in Special Opportunities Fund in the fourth quarter valued at approximately $439,000. CF Capital LLC acquired a new position in Special Opportunities Fund in the fourth quarter valued at approximately $402,000. Envestnet Asset Management Inc. acquired a new position in Special Opportunities Fund in the first quarter valued at approximately $363,000. Finally, NBC Securities Inc. lifted its stake in Special Opportunities Fund by 106,333.3% in the first quarter. NBC Securities Inc. now owns 15,965 shares of the closed-end fund's stock valued at $239,000 after buying an additional 15,950 shares during the period. 35.60% of the stock is owned by institutional investors and hedge funds.

Special Opportunities Fund Price Performance

SPE traded up $0.07 during trading on Tuesday, hitting $15.58. The company's stock had a trading volume of 40,587 shares, compared to its average volume of 29,635. Special Opportunities Fund, Inc. has a twelve month low of $12.72 and a twelve month high of $15.87. The stock's fifty day moving average price is $15.43 and its 200-day moving average price is $15.09.

Special Opportunities Fund Dividend Announcement

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

About Special Opportunities Fund

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.