Shaker Financial Services LLC Decreases Holdings in Special Opportunities Fund, Inc. (NYSE:SPE)

Key Points

• Shaker Financial Services LLC reduced its stake in Special Opportunities Fund by 51.1%, now holding 77,098 shares valued at approximately $1.16 million.
• The Special Opportunities Fund recently announced a monthly dividend of $0.1098 per share, representing an annualized yield of 8.6% for stockholders of record.
• The stock's current price is $15.25, with a 50-day moving average of $15.33 and a one-year high of $15.87.

Shaker Financial Services LLC cut its stake in Special Opportunities Fund, Inc. (NYSE:SPE - Free Report) by 51.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,098 shares of the closed-end fund's stock after selling 80,714 shares during the period. Shaker Financial Services LLC owned 0.69% of Special Opportunities Fund worth $1,158,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SPE. Scotia Capital Inc. lifted its stake in Special Opportunities Fund by 10.7% during the 1st quarter. Scotia Capital Inc. now owns 99,215 shares of the closed-end fund's stock valued at $1,490,000 after acquiring an additional 9,583 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Special Opportunities Fund during the 4th quarter worth $453,000. Jefferies Financial Group Inc. bought a new position in shares of Special Opportunities Fund during the 4th quarter worth $439,000. CF Capital LLC bought a new position in Special Opportunities Fund in the 4th quarter worth about $402,000. Finally, Oppenheimer & Co. Inc. boosted its stake in Special Opportunities Fund by 8.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 24,766 shares of the closed-end fund's stock worth $372,000 after purchasing an additional 2,000 shares during the period. 35.60% of the stock is currently owned by institutional investors.

Special Opportunities Fund Stock Down 0.2%

NYSE SPE traded down $0.03 during trading hours on Friday, hitting $15.46. The company had a trading volume of 22,796 shares, compared to its average volume of 31,476. The firm has a 50 day simple moving average of $15.36 and a 200 day simple moving average of $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 Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given 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 is Tuesday, September 16th.

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.