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.
Special Opportunities Fund has declared a cash dividend of $0.171875 per share on its 2.75% Convertible Preferred Stock, Series C. This dividend is scheduled to be paid on June 30, 2022, to stockholders of record as of June 21, 2022. The announcement reflects the Fund's commitment to providing returns to its shareholders and maintaining its dividend policy.
Special Opportunities Fund (NYSE: SPE) has declared three monthly distributions under its managed distribution plan, totaling $0.33 per share at an annual rate of 8%, based on a net asset value of $16.55 as of December 31, 2021. The distributions are scheduled for April, May, and June 2022, with record dates on April 20, May 19, and June 21, and payable dates on April 29, May 31, and June 30, respectively. The plan may involve capital gains and return of capital if investment income is insufficient, and the Fund's Board retains the right to amend or terminate the plan without notice.
Special Opportunities Fund, Inc. (NYSE: SPE) has concluded its buyback offer for 1.25 million common shares at 97% of the net asset value (NAV), which was determined at $16.18 per share.
The offer expired on April 1, 2022, with 7,549,920 shares (about 59.39%) tendered. Due to the high demand, only 16.56% of shares tendered were accepted, priced at $15.69 per share.
Special Opportunities Fund announced a cash dividend of $0.11267 per share on its 2.75% Convertible Preferred Stock, Series C. This dividend is set to be paid on March 31, 2022, to shareholders on record as of March 22, 2022. This cash return demonstrates the Fund's ongoing commitment to providing income to its investors, reflecting a stable dividend policy.
Special Opportunities Fund (NYSE: SPE) announced a tender offer to purchase up to 1.25 million common shares at 97% of the net asset value per share as of the close of trading on April 1, 2022. The Fund may buy an additional 2% of outstanding shares without amending the offer. Shareholders must confirm with their custodians regarding the notice required to accept the offer. This announcement is not a recommendation to sell securities and a tender offer statement has been filed with the U.S. Securities and Exchange Commission.
Special Opportunities Fund, Inc. (NYSE: SPE) announced that its rights offering for 2,542,593 shares of Convertible Preferred Stock at $25.00 per share expired on January 21, 2022. Preliminary results from American Stock Transfer & Trust Co. indicate that 2,334,954 shares will be issued, generating total proceeds of $58,373,850 for the Fund. The shares are expected to be issued shortly.
Special Opportunities Fund, Inc. (NYSE: SPE) has declared three monthly dividends under its managed distribution plan, maintaining an annual rate of 8% based on a net asset value of $16.55 as of December 31, 2021. The dividends for January, February, and March 2022 are set at $0.11 each, with corresponding record and payable dates outlined. The Fund may distribute long-term capital gains or return of capital if investment income is insufficient. The managed distribution plan is subject to periodic review and potential amendment by the Board.
Special Opportunities Fund, Inc. (NYSE: SPE) will issue one transferable right for every five shares owned as of December 20, 2021. Each right allows the purchase of one share of Convertible Preferred Stock at $25.00, with an aggregate of 2,542,593 shares available. Rights expire on January 21, 2022. The Convertible Preferred Stock offers a 2.75% annual dividend and can be converted into common stock at $20.50 per share. Proceeds will fund a self-tender offer if the stock price is below 94% of its net asset value. Further details can be found in a filed registration statement with the SEC.
Special Opportunities Fund, Inc. (NYSE:SPE) has declared a year-end cash dividend of $0.69763 per share for common stockholders. This dividend comprises $0.30824 of long-term capital gains, $0.28189 of short-term capital gains, and $0.1075 of net investment income. The dividend will be paid on December 31, 2021 to stockholders of record as of December 21, 2021. Final determination of distribution sources will be made after year-end and could differ from the estimated amounts.
Special Opportunities Fund, Inc. (NYSE: SPE) has announced its Annual Meeting of Stockholders on December 8, 2021, at 11:00 a.m. Eastern time, to be held at Bulldog Investors' offices in Saddle Brook, NJ. Stockholders must register by contacting John Buckel at U.S. Bank Global Fund Services no later than December 3, 2021. For those unable to attend in person, dial-in details for questions can be obtained from Mr. Buckel. Stockholders are reminded to comply with security and COVID-19 protocols.
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