Envestnet Asset Management Inc. Invests $363,000 in Special Opportunities Fund, Inc. (NYSE:SPE)

Key Points

• Envestnet Asset Management Inc. has invested $363,000 in Special Opportunities Fund, acquiring 24,197 shares, which accounts for about 0.22% of the fund's total shares.
• The Special Opportunities Fund recently announced a monthly dividend of $0.1098 per share, which corresponds to an annualized yield of 8.5%.
• Current trading for Special Opportunities Fund shares stands at $15.46, with a 52-week range between $12.72 and $15.87.

Envestnet Asset Management Inc. acquired a new position in shares of 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 acquired 24,197 shares of the closed-end fund's stock, valued at approximately $363,000. Envestnet Asset Management Inc. owned about 0.22% of Special Opportunities Fund at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SPE. Quarry LP purchased a new position in shares of Special Opportunities Fund during the 4th quarter worth about $44,000. K2 Principal Fund L.P. bought a new stake in Special Opportunities Fund in the fourth quarter worth about $146,000. NBC Securities Inc. boosted its position in shares of Special Opportunities Fund by 106,333.3% during 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. Oppenheimer & Co. Inc. grew its stake in shares of Special Opportunities Fund by 8.8% during the first quarter. Oppenheimer & Co. Inc. now owns 24,766 shares of the closed-end fund's stock valued at $372,000 after buying an additional 2,000 shares during the last quarter. Finally, CF Capital LLC purchased a new stake in shares of Special Opportunities Fund in the fourth quarter worth approximately $402,000. 35.60% of the stock is currently owned by hedge funds and other institutional investors.

Special Opportunities Fund Price Performance

Shares of SPE stock traded down $0.03 on Friday, reaching $15.46. 22,796 shares of the company's stock were exchanged, compared to its average volume of 31,476. The company's fifty day simple moving average is $15.36 and its 200 day simple moving average is $15.09. Special Opportunities Fund, Inc. has a 52 week low of $12.72 and a 52 week high of $15.87.

Special Opportunities Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.1098 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date of this dividend is Tuesday, September 16th.

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.