Special Opportunities Fund Stock Price, News & Analysis

Special Opportunities Fund, Inc. (NYSE: SPE) has announced an immediate share buyback program for its common and convertible preferred stock. This program will allow the Fund to repurchase shares when they are trading at a discount to their net asset value or book value. The buyback does not rely on the "safe harbor" provisions under Rule 10b-18, providing greater flexibility for the Fund to manage its capital structure effectively. This strategy aims to enhance shareholder value by potentially increasing the stock price as the Fund actively buys back shares.

Special Opportunities Fund, Inc. (NYSE: SPE) has announced its next three monthly distributions under its managed distribution plan, targeting an annual rate of 8% (0.6667% monthly). As of December 31, 2022, the net asset value per share was $13.01. The declared distributions are $0.0867 for April, May, and June 2023, with record dates on April 19, May 19, and June 21, respectively, and payable dates on April 28, May 31, and June 30, 2023. The Fund may adjust distributions based on investment income and will provide tax reporting post-year-end.

The Board of Directors of Special Opportunities Fund (NYSE: SPE) has declared a cash dividend of $0.171875 per share on the Fund's 2.75% Convertible Preferred Stock, Series C. This dividend is scheduled for payment on March 31, 2023, to shareholders on record as of March 22, 2023. This announcement reflects the Fund’s ongoing commitment to returning value to its investors through regular distributions.