SPE Stock Recent News

Special Opportunities Fund (SPE) offers exposure to a diversified portfolio managed by activist group Bulldog Investors, focusing on discounted closed-end funds. The fund's discount is quite attractive both on an absolute basis and a relative basis compared to its historical level. SPE's portfolio includes a focus on other CEFs but that also includes business development companies and special purpose acquisition companies as well.

SPE outperformed the S&P 500 with a 15.45% return, aided by a 1.28% discount narrowing and strategic share repurchases. Increased SPAC allocation to 16.2%, reduced CEFs and BDCs, and saw successful activist outcomes with CMU, CXH, and DMA. New positions in Magellan Global Fund and Macy's, significant exposure to term trusts, and proactive shareholder proposals to enhance value.

LAS VEGAS--(BUSINESS WIRE)--Legendary entertainer and music icon Donny Osmond celebrates the third anniversary of his award-winning solo show DONNY and extends his residency inside Harrah's Las Vegas Showroom at Harrah's Las Vegas through June of 2025. Osmond's show takes its audience through a dynamic, energy-filled musical journey of his unparalleled life as one of the most recognized entertainers in the world. Featuring the fan favorite “Auto-rap-ography” – a rap song accompanied by mileston.

NEW YORK--(BUSINESS WIRE)--Special Opportunities Fund, Inc. (NYSE: SPE) (the “Fund”) today announced that the Fund's Board of Directors (the “Board”) has declared the next three monthly distributions under the Fund's managed distribution plan. Under the Fund's managed distribution plan, the Fund intends to make monthly distributions to common stockholders at an annual rate of 8% (or 0.6667% per month) for 2024, based on the net asset value of $14.31 of the Fund's common shares as of December 31.

Investing in closed-end funds offers opportunities to exploit discounts and premiums, potentially leading to increased upside. BlackRock Enhanced Equity Dividend Fund and Special Opportunities Fund are currently trading at large double-digit discounts, and that can make them compelling investment options. Both funds offer monthly distributions to investors as well, which can make it easier to be patient in holding these funds over the long term.

NEW YORK--(BUSINESS WIRE)--Special Opportunities Fund, Inc. (the “Fund”) (NYSE: SPE) announced today that, at the annual meeting of stockholders of BNY Mellon Municipal Income (NYSE: DMF) held on June 12, 2024, (1) Phillip Goldstein, Andrew Dakos and Moritz Sell were elected as Class I Directors, (2) a non-binding proposal to declassify the Board was approved, and (3) a non-binding proposal to request that the Board consider measures to allow stockholders to monetize their shares at a price at.

SPE Fund is managed by Bulldog Investors and focuses on exploiting pricing inefficiencies in other closed-end funds (CEFs) through activist campaigns. The fund offers diversification by investing in various asset classes, including SPACs, fixed income exposures, and different geographies. SPE has shown improved performance since last September, with a potential for higher dividends, making it a consideration for investors seeking stable monthly distributions.

NEW YORK--(BUSINESS WIRE)--Special Opportunities Fund, Inc. (NYSE: SPE) (the “Fund”) today announced that the Fund's Board of Directors has declared a cash dividend of $0.171875 per share on the Fund's 2.75% Convertible Preferred Stock, Series C. The dividend is payable on June 28, 2024 to holders of record as of June 18, 2024.

The Special Opportunities Fund employs a value-oriented strategy and invests in undervalued assets across various markets. The fund has outperformed its peers over most timeframes and offers diversification through its allocation to a wide range of different closed-end funds (CEFs). SPE's current discount to NAV presents an attractive entry point for investors, and its diversification and solid performance make it a good option for those seeking value in a market dominated by growth stocks.

Special Opportunities Fund is off to a strong start in 2024 after a solid 2023. SPE has a managed distribution policy with an 8% yield and a monthly pay schedule. The fund's portfolio is highly diversified, with a focus on closed-end funds and business development companies.