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) in the 1st quarter, according to its most recent disclosure 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 0.22% of Special Opportunities Fund as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SPE. Shaker Financial Services LLC lifted its position in shares of Special Opportunities Fund by 148.0% during the fourth quarter. Shaker Financial Services LLC now owns 157,812 shares of the closed-end fund's stock worth $2,309,000 after purchasing an additional 94,176 shares during the last quarter. Scotia Capital Inc. lifted its position in shares of Special Opportunities Fund by 6.1% during the fourth quarter. Scotia Capital Inc. now owns 89,632 shares of the closed-end fund's stock worth $1,311,000 after purchasing an additional 5,141 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Special Opportunities Fund during the fourth quarter worth $453,000. Jefferies Financial Group Inc. bought a new stake in shares of Special Opportunities Fund during the fourth quarter worth $439,000. Finally, CF Capital LLC bought a new stake in shares of Special Opportunities Fund during the fourth quarter worth $402,000. 35.60% of the stock is owned by hedge funds and other institutional investors.

Special Opportunities Fund Stock Performance

Shares of SPE stock traded down $0.06 on Monday, hitting $15.37. The stock had a trading volume of 2,610 shares, compared to its average volume of 42,009. The business has a 50 day moving average price of $15.36 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 company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.1098 dividend. This represents a c) annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Tuesday, September 16th.

Special Opportunities Fund Company 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.