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.

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.