Special Opportunities Fund, Inc. (NYSE:SPE - Get Free Report) announced a monthly dividend on Tuesday, April 9th, Wall Street Journal reports. Investors of record on Tuesday, June 18th will be given a dividend of 0.0954 per share by the closed-end fund on Friday, June 28th. This represents a $1.14 dividend on an annualized basis and a yield of 9.04%. The ex-dividend date of this dividend is Tuesday, June 18th.
Special Opportunities Fund has decreased its dividend payment by an average of 2.7% annually over the last three years and has increased its dividend annually for the last 1 consecutive years.
Special Opportunities Fund Stock Performance
NYSE SPE remained flat at $12.66 during trading hours on Tuesday. 24,316 shares of the company were exchanged, compared to its average volume of 24,900. The firm has a 50-day simple moving average of $12.34 and a 200 day simple moving average of $11.68. Special Opportunities Fund has a 1-year low of $10.26 and a 1-year high of $12.73.
Hedge Funds Weigh In On Special Opportunities Fund
Several large investors have recently modified their holdings of the business. Quarry LP purchased a new position in shares of Special Opportunities Fund in the fourth quarter worth about $26,000. HighTower Advisors LLC purchased a new position in Special Opportunities Fund during the third quarter valued at approximately $170,000. SkyView Investment Advisors LLC grew its stake in Special Opportunities Fund by 85.8% during the second quarter. SkyView Investment Advisors LLC now owns 32,490 shares of the closed-end fund's stock valued at $365,000 after acquiring an additional 15,000 shares in the last quarter. Rivernorth Capital Management LLC grew its stake in Special Opportunities Fund by 8.2% during the second quarter. Rivernorth Capital Management LLC now owns 378,177 shares of the closed-end fund's stock valued at $4,243,000 after acquiring an additional 28,625 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Special Opportunities Fund by 13.7% during the first quarter. NewEdge Advisors LLC now owns 16,600 shares of the closed-end fund's stock valued at $180,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 35.60% of the company's stock.
About Special Opportunities Fund
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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.
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