Welcome to our dedicated page for Special Opportunities Fund news (Ticker: SPE), a resource for investors and traders seeking the latest updates and insights on Special Opportunities Fund stock.
Special Opportunities Fund, Inc. (Symbol: SPE) is a United States-based closed-ended diversified management investment company, headquartered at 2924 E Ermina Ave, Spokane, Washington. The fund's primary objective is to achieve total return, which it pursues through a diversified investment portfolio.
Special Opportunities Fund's portfolio is a strategic mix of various asset classes designed to optimize returns while managing risk. The portfolio includes investment companies, common stocks, money market funds, commodity partnerships, preferred stocks, convertible bonds, liquidating trusts, promissory notes, senior unsecured notes, warrants, rights, corporate notes, and corporate bonds. This extensive diversification allows the fund to capture opportunities across different sectors and market conditions.
The company is committed to identifying and capitalizing on unique investment opportunities. It actively invests in sectors such as construction materials, consumer finance, healthcare equipment and supplies, independent power and renewable electricity producers, insurance, personal products, professional services, and real estate investment trusts (REITs). This broad sector exposure enables the fund to leverage growth prospects in various economic segments.
Recent achievements and current projects reflect the company's strategic investment approach. By continually evaluating and adjusting its portfolio, Special Opportunities Fund aims to maximize shareholder value. The company's disciplined investment process and expert management team ensure that they are well-positioned to identify lucrative opportunities and manage potential risks effectively.
With a focus on sustainable total returns, Special Opportunities Fund maintains a robust financial condition, indicating solid performance and prudent management of assets. The company's strategic partnerships and investments further strengthen its market position and enhance its growth potential.
Overall, Special Opportunities Fund, Inc. stands out as a well-managed, diversified investment company dedicated to achieving total returns for its investors. Through its comprehensive portfolio and strategic investments, it continues to deliver value and capitalize on special opportunities in the market.
The Board of Directors of Special Opportunities Fund (NYSE: SPE) has declared a cash dividend of
Special Opportunities Fund (NYSE: SPE) has announced the next three monthly distributions under its managed distribution plan, set at an annual rate of 8% based on a net asset value of $13.01 as of December 31, 2022. The distributions for January, February, and March 2023 will each be $0.0867, payable on January 31, February 28, and March 31, respectively. Should investment income be insufficient, the Fund may resort to distributing long-term capital gains or return of capital. Notably, the Board retains the right to amend or terminate the plan without prior notice.
Special Opportunities Fund, Inc. (NYSE: SPE) has announced a cash dividend of $0.171875 per share on its 2.75% Convertible Preferred Stock, Series C. This dividend will be paid on December 30, 2022, to shareholders on record as of December 20, 2022. This move reflects the Fund's commitment to providing returns to its investors and highlights its financial stability.
Special Opportunities Fund, Inc. (NYSE: SPE) announced a standstill agreement with Delaware Enhanced Global Dividend and Income Fund (NYSE: DEX) regarding DEX's proposed reorganization into abrdn Global Dynamic Dividend Fund (NYSE: AGD). The agreement includes a contingent tender offer for DEX to purchase up to 30% of its shares at 98% of the net asset value, pending shareholder approval. Chairman Phillip Goldstein believes this offer is beneficial for DEX shareholders and encourages their support for the reorganization.
The Special Opportunities Fund, Inc. (NYSE: SPE) will hold its Annual Meeting of Stockholders on December 14, 2022, at 10:00 a.m. Eastern time in New York City. To attend, stockholders must register by December 5, 2022, by contacting John Buckel at U.S. Bank Global Fund Services. Attendees must adhere to security and COVID-19 protocols.
For ongoing updates and information, stockholders can visit the Fund's website at www.specialopportunitiesfundinc.com.
Special Opportunities Fund (NYSE: SPE) has announced its next three monthly distributions under its managed distribution plan, set to an annual rate of 8% based on a net asset value of $16.55 as of December 31, 2021. Distributions of $0.11 per share will occur in October, November, and December 2022, with record and payable dates specified. The Fund may distribute capital gains or return of capital if investment income is insufficient. The Board retains the right to amend or terminate the distribution plan, which may affect the market price of the shares.
Special Opportunities Fund, Inc. (NYSE: SPE) has announced a cash dividend of $0.171875 per share for its 2.75% Convertible Preferred Stock, Series C. This dividend will be distributed on September 30, 2022, to shareholders recorded as of September 21, 2022. This announcement is a clear indication of the Fund's ongoing commitment to providing returns to its shareholders.
Special Opportunities Fund, Inc. (SPE) announced a litigation agreement concerning the dissolution of FAST Acquisition Corp. (FST), delaying the distribution of net assets to Class B shares until the Court's ruling. Class A shares will be redeemed post-August 25, 2022, and the winding up of FST will proceed. The agreement restricts the payment of approximately $10.5 million for taxes, loans, professional fees, litigation defense, and other expenses. Chairman Phillip Goldstein emphasized the focus on ensuring equitable distribution of assets to all stockholders.
Special Opportunities Fund, Inc. (NYSE: SPE) has filed a class action lawsuit in the Delaware Court of Chancery against FAST Acquisition Corp. (NYSE: FST). The lawsuit aims to prevent insiders from appropriating FAST's net assets upon the company's impending dissolution. FAST was unable to complete a business combination by its August 25, 2022, deadline and plans to dissolve while retaining a breakup fee of up to $33 million from Fertitta Entertainment. SPE claims FAST's Board has a fiduciary duty to distribute these assets equitably to all stockholders.
Special Opportunities Fund, Inc. (NYSE: SPE) has declared the next three monthly distributions under its managed distribution plan, targeting an annual distribution rate of 8% based on a net asset value of
The upcoming distributions are as follows: $0.11 for July (payable on
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