Special Opportunities Fund, Inc. $SPE Shares Sold by Rivernorth Capital Management LLC

Rivernorth Capital Management LLC lessened its stake in shares of Special Opportunities Fund, Inc. (NYSE:SPE) by 78.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,348 shares of the closed-end fund’s stock after selling 64,721 shares during the quarter. Rivernorth Capital Management LLC owned about 0.16% of Special Opportunities Fund worth $234,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Cetera Investment Advisers increased its stake in 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 buying an additional 3,811 shares during the period. Raymond James Financial Inc. lifted its stake in shares of Special Opportunities Fund by 7.2% in the 2nd quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock worth $483,000 after acquiring an additional 2,082 shares during the period. Scotia Capital Inc. lifted its stake in shares of Special Opportunities Fund by 1.2% in the 3rd quarter. Scotia Capital Inc. now owns 107,016 shares of the closed-end fund’s stock worth $1,659,000 after acquiring an additional 1,270 shares during the period. First Manhattan CO. LLC. boosted its holdings in shares of Special Opportunities Fund by 27.0% in the fourth quarter. First Manhattan CO. LLC. now owns 40,010 shares of the closed-end fund’s stock valued at $620,000 after acquiring an additional 8,500 shares in the last quarter. Finally, TrueMark Investments LLC boosted its holdings in shares of Special Opportunities Fund by 8.7% in the first quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund’s stock valued at $223,000 after acquiring an additional 1,293 shares in the last quarter. 35.60% of the stock is owned by institutional investors and hedge funds.

Special Opportunities Fund Price Performance

NYSE SPE opened at $13.56 on Monday. Special Opportunities Fund, Inc. has a 52-week low of $13.02 and a 52-week high of $15.98. The firm has a 50-day moving average price of $13.40 and a 200 day moving average price of $13.92.

Special Opportunities Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be issued a $0.1087 dividend. This represents a c) annualized dividend and a dividend yield of 9.6%. The ex-dividend date of this dividend is Tuesday, September 22nd.

Special Opportunities Fund Company 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.