Skip to Content

Special Opportunities Fund, Inc. intends to pay a monthly dividend of $0.09 per share (NYSE:SPE)

Special Opportunities Fund, Inc. intends to pay a monthly dividend of $0.09 per share (NYSE:SPE)

The Wall Street Journal reported that the monthly dividend that is paid out to shareholders of Special Opportunities Fund, Inc. (NYSE: SPE) was distributed on January 6th of this year. The shareholders of the closed-end fund, who recorded holders as of Thursday, February 16th, will receive a dividend payment of 0.0867 dollars per share on Tuesday, February 28th. This payment will be made to those shareholders by the closed-end fund. Because of this, the dividend yield is 9.13% per quarter, and the dividend payout is $1.04 per year. February 15th, which is a Wednesday, is the date that will mark the beginning of the “ex-dividend” status for this dividend.
The dividend that the Special Opportunities Fund pays out has increased for the past three years in a row, growing at an annualized rate that is an average of 27.9% over those three years combined.
The NYSE: SPE ticker experienced a rise of $0.16 during trading on Friday, bringing its price to $11.40. The average stock volume is 40,454 shares, but the number of shares traded was 48,115, which is significantly higher than that. The moving average of the company’s stock price over the past 200 days is $12.16, and the moving average of its stock price over the last 50 days is $11.7. During the past year, the price of one share of the Special Opportunities Fund has moved between a low of $10.90 and a high of $15.66.
Recently, there has been a change in the proportion of holdings institutional investors have in the company. During the second quarter, NewEdge Advisors LLC added approximately 145,000 dollars more to the total value of its holdings in the Special Opportunities Fund. In addition, the Bank of Montreal increased its holdings in the Special Opportunities Fund by approximately 202,000 dollars during the first quarter by making additional investments totaling approximately 202,000 dollars. Last but not least, during the first three months of 2018, the number of assets that Ancora Advisors LLC held in the Special Opportunities Fund saw a growth of 49.6%. Following the acquisition of an additional 42,067 shares during the most recent quarter, Ancora Advisors LLC now possesses a total of 126,823 stock held by the closed-end fund. The holdings Ancora Advisors LLC has in this position are worth $1,859,000 to the company. Institutional investors own 34.49% of the company’s stock.
Special Opportunities Fund, Inc. is a recently established closed-ended balanced fund of funds. Bulldog Investors, LLC, has been responsible for managing the fund on behalf of its parent company. It does this by purchasing shares of closed-ended funds that invest in public stock and fixed-income markets. Investment professionals typically manage these funds. When making investment decisions, the fund utilizes a wide range of investment strategies, such as value, opportunistic, and exceptional situation investing.

Tags

Leave a comment

Your email address will not be published. Required fields are marked *