Shaker Financial Services LLC Has $5.50 Million Stock Position in Special Opportunities Fund, Inc. $SPE

Shaker Financial Services LLC boosted its stake in shares of Special Opportunities Fund, Inc. (NYSE:SPE) by 33.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,678 shares of the closed-end fund’s stock after purchasing an additional 87,950 shares during the quarter. Special Opportunities Fund comprises 1.9% of Shaker Financial Services LLC’s holdings, making the stock its 9th largest holding. Shaker Financial Services LLC’s holdings in Special Opportunities Fund were worth $5,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Scotia Capital Inc. increased its position in Special Opportunities Fund by 6.6% during the 2nd quarter. Scotia Capital Inc. now owns 105,746 shares of the closed-end fund’s stock valued at $1,638,000 after buying an additional 6,531 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Special Opportunities Fund by 8.1% during the second quarter. Envestnet Asset Management Inc. now owns 26,167 shares of the closed-end fund’s stock worth $405,000 after acquiring an additional 1,970 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Special Opportunities Fund by 2.0% during the second quarter. Advisors Asset Management Inc. now owns 114,199 shares of the closed-end fund’s stock worth $1,769,000 after acquiring an additional 2,294 shares during the last quarter. Raymond James Financial Inc. increased its holdings in shares of Special Opportunities Fund by 7.2% during the second quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock valued at $483,000 after acquiring an additional 2,082 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Special Opportunities Fund by 19.5% in the 2nd quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock valued at $362,000 after purchasing an additional 3,811 shares during the last quarter. 35.60% of the stock is currently owned by institutional investors.

Special Opportunities Fund Price Performance

NYSE:SPE opened at $14.90 on Wednesday. Special Opportunities Fund, Inc. has a twelve month low of $12.72 and a twelve month high of $15.98. The company’s 50 day moving average is $15.17 and its two-hundred day moving average is $15.39.

Special Opportunities Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.1087 per share. This represents a c) annualized dividend and a dividend yield of 8.8%. The ex-dividend date is Tuesday, March 17th.

Insider Buying and Selling at Special Opportunities Fund

In related news, President Andrew Dakos sold 4,098 shares of the company’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $14.66, for a total value of $60,076.68. Following the transaction, the president directly owned 6,064 shares of the company’s stock, valued at $88,898.24. This represents a 40.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.13% of the stock is owned by company insiders.

Special Opportunities Fund Profile

Special Opportunities Fund (NYSE: SPE) is a closed-end management investment company that seeks to deliver attractive total return by investing across corporate capital structures. The fund primarily allocates capital to debt and equity securities of both public and private issuers, with a focus on special situations, distressed credits and event-driven opportunities.

The fund’s flexible, multi-asset strategy allows portfolio managers to shift allocations among high-yield bonds, leveraged loans, convertible securities, preferred stock and equity positions.