Seeking Alpha • Apr 01

SPE Vs. BRW: High Yields, Weak Compounding -- Neither Is Cheap Enough

Summary Special Opportunities Fund (SPE) and Saba Capital Income & Opportunities Fund (BRW) both offer double-digit yields and discounts but differ in income sources and risk profiles. SPE is a fund-of-funds with engineered payouts, fee layering, and uneven, event-driven returns; BRW is more aggressive, complex, and relies on activist strategies and direct income. Neither SPE nor BRW acts as a compounder; both suffer from inconsistent distributions, complexity, and lack of price appreciation, keeping them at persistent discounts. SPE has recently outperformed BRW in total return due to better conversion of opportunistic gains, but neither fund is attractively priced relative to their risks. Read the full article on Seeking Alpha

Seeking Alpha • Feb 11

SPE: Discount To NAV Normalized; Downgrade To Hold

Summary The Special Opportunities Fund (SPE) focuses on discounted closed-end funds, undervalued operating companies, and other special distributions to generate absolute returns. The SPE fund delivered 46% total returns since December 2023, outperforming the S&P 500. But with its discount to NAV normalized, forward returns are expected to be more modest. The SPE fund raised its 2025 distribution to $0.1098 / month, or an 8.4% forward yield. Given the normalized discount to NAV and market risks, I am downgrading SPE to a hold, despite its attractive distribution yield and decent long-term returns. Read the full article on Seeking Alpha

Seeking Alpha • Sep 24

SPE: Solid Performance While Deep Discount Persists

Summary Special Opportunities Fund (SPE) offers exposure to a diversified portfolio managed by activist group Bulldog Investors, focusing on discounted closed-end funds. The fund's discount is quite attractive both on an absolute basis and a relative basis compared to its historical level. SPE's portfolio includes a focus on other CEFs but that also includes business development companies and special purpose acquisition companies as well. Read the full article on Seeking Alpha

Seeking Alpha • Apr 10

SPE: A Diversified Fund Trading At A Significant Discount

Summary The Special Opportunities Fund employs a value-oriented strategy and invests in undervalued assets across various markets. The fund has outperformed its peers over most timeframes and offers diversification through its allocation to a wide range of different closed-end funds (CEFs). SPE's current discount to NAV presents an attractive entry point for investors, and its diversification and solid performance make it a good option for those seeking value in a market dominated by growth stocks. Read the full article on Seeking Alpha

Seeking Alpha • Dec 29

SPE: Distribution Set To Increase In 2024

Summary The Special Opportunities Fund focuses on discounted closed-end funds, undervalued operating companies, and other special distributions to generate absolute returns. Looking forward, with sold performance in 2023, the SPE fund will likely raise its distribution in the new year. This will likely help the fund narrow its discount to NAV. The SPE fund also has ample cash / money market securities on hand to fund a buyback if the discount persists. Read the full article on Seeking Alpha

Seeking Alpha • Sep 12

SPE: The Ironic Special Discount, Greater Action Needed

Summary Special Opportunities Fund is a closed-end fund managed by Bulldog Investors known for using activist techniques to unlock value in rival funds. SPE currently trades at an 18% discount to NAV, and more action is needed from management to help reduce this discount. The fund aims to pay monthly distributions at a rate of 8% annually, but its small size may pose challenges in sustaining this distribution policy. Read the full article on Seeking Alpha

Seeking Alpha • May 23

Special Opportunities Fund: Opportunistic Investing CEF With Multiple Levels Of Discounts

Summary SPE currently trades at an above average 17.3% discount to NAV. Way above its normal range. SPE has issued a 2.75% convertible preferred for leverage that also currently trades at a significant discount to par value. The fund recently modified its share repurchase plan to allow unlimited purchases of its common stock and convertible preferred whenever they trade at a discount to NAV or book value. The fund's underlying portfolio contains CEFs, BDCs and SPACs that also trade at significant discounts to NAV, book value or trust value. Read the full article on Seeking Alpha

Seeking Alpha • Jan 04

Special Opportunities Fund dividend declines by 21.2% to $0.0867

Special Opportunities Fund (NYSE:SPE) declares $0.0867/share monthly dividend, -21.2% decrease from prior dividend of $0.1100. Forward yield 9.16% Payable Jan. 31; for shareholders of record Jan. 20; ex-div Jan. 19. Payable Feb. 28; for shareholders of record Feb. 16; ex-div Jan. 15. Payable March. 31; for shareholders of record March. 22; ex-div March. 21. See SPE Dividend Scorecard, Yield Chart, & Dividend Growth.

Seeking Alpha • Dec 23

SPE: Distribution Set To Decline In 2023

Summary The Special Opportunities Fund is a special situations / activist hedge fund in a closed-end fund structure. The CEF has generated respectable long-term average annual returns of 6.8% over 10 years. However, with a large payout and poor investment performance in 2022, SPE's NAV has shrunk by ~30% YoY. This implies the monthly distribution is set to decline by 20% in 2023, as the SPE fund is run on a managed distribution plan of trailing 8% of annual NAV. True to its name, the Special Opportunities Fund (SPE) is a closed-end fund ("CEF") run like a special situations / activist hedge fund. The fund has generated modest long term returns and has an attractive 11.5% current yield. However, the yield is set to decline in 2023 due to the fund's managed distribution plan. Fund Overview The Special Opportunities Fund aims to provide total returns to investors by investing in discounted closed-end funds, undervalued operating companies, and other special situations like risk arbitrage and distressed securities. SPE's stated investment strategy appears purposely vague such that the manager, Bulldog Investors LLP, has carte blanche to invest in almost any securities it deems appropriate. In fact, going through some of the fund's reports and press releases, it is clear the SPE fund is an activist hedge fund wrapped in a CEF vehicle. For example, within the past year, SPE has sued FAST Acquisition Corp. (FST) and Delaware Enhanced Global Dividend and Income Fund (DEX) to effect activist policies. Portfolio Holdings One complaint I have is that SPE's website has little information on the fund's performance and holdings except links to quarterly reports that has not been updated for Q3/2022, even though we are approaching year-end 2022. From the latest semi-annual report, we can see that SPE's portfolio is 60% invested in investment companies (i.e., CEFs), 26% invested in Special Purpose Acquisition Vehicles ("SPACs"), and various other investments as of June 30,2022 (Figure 1). Figure 1 - SPE portfolio (SPE semi-annual report) Returns Using returns data from Morningstar, we can see that the SPE fund has delivered modest historical returns with 3/5/10Yr average annual returns of 5.7%/5.6%/6.8% of NAV, to November 30, 2022 (Figure 2). These figures include the tough environment of 2022, where SPE has lost 8.4% YTD. Figure 2 - SPE historical returns (morningstar) Since SPE's strategy is more of a special situations / activist hedge fund than a traditional long-only CEF, we should also view its results through an absolute return lens. On an annual basis, we can see for the past ~11 years (including YTD 2022), the fund had returned an average of 15.7% in up years vs. average losses of 6.8% in down years. SPE was up 7 years in the past 11 years, or 64% of the time (Figure 3). The 2.3-to-1 win/loss ratio combined with 64% winning probability does look favorable for SPE. Figure 3 - SPE annual returns (morningstar.com) However, investors should also note that the past decade has been one of the longest bull markets in history. A simple market index fund like the SPDR S&P 500 Trust ETF (SPY) would have been up 9 out of 11 years (82% win rate) with average gains of 19.4% in up years vs. 11.5% losses in down years, for a 1.7:1 win/loss ratio (Figure 4). Overall, SPY has generated 3/5/10 Yr average annual returns of 7.6%/9.2%/12.4%. So in comparison, SPE's returns look pedestrian. Figure 4 - SPY annual returns (morningstar.com) Distributions & Yield The SPE fund has a managed distribution plan ("MDP"). SPE currently pays a monthly distribution at an annual rate of 8% of NAV at the end of the prior year or $0.11 / month. This translates to a current yield of 11.5% of market price, or 10% of NAV. As I commented in my prior article on the Royce Value Trust (RVT), I am a supporter of managed distribution policies, as it protects the fund from paying an unsustainable distribution rate that destroys NAV value over time. However, I have some reservations regarding SPE's chosen 8% distribution rate. If we look at SPE's 10 year average annual returns of 6.8% of NAV, we can see that there is an earnings shortfall of approximately 1% per annum between SPE's returns and its distribution. In fact, SPE changed its MDP in July 2021 from a 7% annual rate to 8%. This looks like an error in hindsight, as management probably looked at SPE's trailing 10Yr average annual returns of over 9% and concluded paying a trailing 8% rate is sustainable. However, they did not consider that the economic expansion from 2009 had been one of the longest in history, and would flatter any trailing returns figures.

Seeking Alpha • Oct 05

Special Opportunities Fund declares $0.11 dividend

Special Opportunities Fund (NYSE:SPE) declares $0.11/share monthly dividend, in line with previous. Forward yield 11.56% Payable Oct. 31; for shareholders of record Oct. 20; ex-div Oct. 19. Payable Nov. 30; for shareholders of record Nov. 18; ex-div Nov. 17. Payable Dec. 30; for shareholders of record Dec. 20; ex-div Dec. 19. See SPE Dividend Scorecard, Yield Chart, & Dividend Growth.

Seeking Alpha • Jul 18

Special Opportunities Fund: Bulldog Investors Show Some Bite Over The Full Cycle

Over the last 12 months, the Special Opportunities Fund has suffered less of a decline than the S&P 500 on a total return basis. Performance over 3 years and longer shows clear underperformance compared to the S&P 500. The objective of the fund is to achieve equity like returns with significantly less risk, so some of such underperformance may be tolerated. The discount to NAV appears permanent. The fund is more suited to occasional opportunistic trades when out of favor rather than a long-term hold. The Theoretical Investment Edge Of Bulldog Investors The Special Opportunities Fund (SPE) is a closed-end fund that holds many other CEFs, and the manager is Bulldog Investors. Often when this is explained to investors, the first reaction is to question why would one pay fees to invest in other funds that charge fees? The answer might be because you can buy a discounted fund that itself owns other discounted funds. CEFs are a section of the market that many traditional fund managers ignore, yet retail investors gravitate to in the hunt for yield. There are plenty of market inefficiencies to exploit. This is an important point to note as discussed in this old CEF academic paper. Bulldog Investors have decades of experience focusing on CEFs, so it is not unreasonable to expect they could add plenty of alpha due to their focus on this niche. They also have the legal expertise and fight, hence the name Bulldog Investors. This is required to use shareholder activism techniques to close the discounts to NAV on their targeted holdings. The large discounts they acquire the CEFs at should more than compensate for the fee drag that occurs by owning them. The same theory can be used for the investors that buy SPE itself, which usually trades at a large discount to NAV. In terms of the fees of SPE, their annual management expense ratio is approximately 1.6%. Time to judge Bulldog Investors over the cycle I am willing to view the recent relative performance from the perspective of the fund’s stated risk / return objectives. They aim to achieve equity like returns with much less risk. Now that the first half of 2022 has seen large declines in the S&P 500, I thought this was an opportune time to check back on my SPE thesis from 3 years ago. At the time of my last SPE article in 2019, we had experienced a stock market bull run a decade long with little interruptions to the trend. Today however we have more of a full cycle to judge SPE on. A cycle that has seen some significant downside volatility not only this year, but also during 2020. Was the fund’s aims achieved in the context of drawdowns that occurred in such bear markets? Performance in recent bear markets SPE still looks to have struggled to keep pace with the S&P 500 on a total return basis over this 3-year volatile period I just mentioned. Seeking Alpha – SPE Returns In terms of the last 12 months however, we can see that the fund as fared better than the returns of the S&P 500. This offers some support to suggest that SPE might be delivering on their objective of less risk. I also however wanted to explore if their drawdown during the 2020 covid crash was milder than the index. In the case of the index, the S&P 500 suffered a 34% drawdown. This drawdown was very fast, only about 6 weeks. For SPE I simply went to CEF Connect and looked at how much the SPE NAV fell in the same period and allowed for one distribution payment that was paid out. That led me to conclude that the drawdown for SPE shareholders was more like 43%, quite a bit worse than the S&P 500. Performance in bear markets of prior decades It is very rare these days that we can analyze some fund managers over a period of almost 30 years! Although SPE was born out of an activism opportunity itself if 2009, the three investment professionals involved here were also working together in the late 1990s. Bulldog Investors was established in 1993 so the original hedge fund has a longer timeframe to examine. A 2018 interview with founder Phil Goldstein and co manger Andrew Dakos explored their strategy of equity like returns with lower risk. It therefore makes sense to take into consideration how they performed during the bear markets of the years 2000 and 2008. Here is a direct quote from the interview I referred to: “Most importantly, from 2000-2002 they had their best market outperformance (+5% vs. -22% for the S&P 500) and in 2008 they had what was likely the only long only equity fund that was positive (by 2%) – it was invested solely in SPACs -- while the S&P 500 was down 37%. They typically lag performance wise when growth is in favor such as now and leading up to the 2000 market debacle, but they more than make up for it during major market swoons.” Is the SPE portfolio therefore less risky? The 2020 bear market saw SPE suffer a worse drawdown than the S&P 500, yet in 2022 the bear market has seen SPE outperform. Why such a difference? I put this down to 2020 being considered a unique type of bear market (pandemic related), that initially led to further outperformance in tech related beneficiaries of the stay-at-home theme. Having said that, the fund’s objective of taking less risk to get their equity like returns should be examined closer given this contradictory experience in 2020. Let’s keep this in mind when examining a few factors with their latest asset class exposures. SPE asset class exposures The data I refer to will be from the Annual Report and as at 31st December 2021. In the context of assessing drawdown risk, I think this is a useful snapshot as it was prior to the 2022 bear market. SPE Annual Report 2021 The investment companies’ exposures can help lower risk in some ways. For instance, during a market downturn, it can assist activist investors in their campaigns. Shareholders in other CEFs may be more willing to vote to wind up funds or to conduct tender offers when recent performance is weak. Another factor to lower risk is that some of the CEFs that SPE hold are in the fixed income sector. These bond CEFs can often hold up relatively better during an equity bear market. The 2020 & 2022 bear markets however occurred when the fixed income sector started with historically very low bond yields. The 2000 & 2008 bear markets were quite different in that respect. This also could be in part some explanation why SPE did not manage to produce a lower drawdown in the 2020 covid crash. SPE leverage In this case the December 31st balance date of the 2021 Annual Report is not the best snapshot in time to use. SPE issues convertible preferred stock to use leverage to enhance their returns but in July 2021 this was all redeemed. It was not until January 2022 that they completed a rights offering of a new class of convertible preferred stock. This new class pays a 2.75% annual dividend and has a redemption date 5 years later in 2027. For some context of the leverage SPE likes to use, this rights offering raised approximately $58 million. The net assets of the fund as shown earlier in the table above was about $210 million. The initial reaction might be that the borrowings SPE use may be inconsistent with the goal of producing equity like returns with less risk. They have timed this rights offering reasonably well though in the context of the difficult market environment since January this year. Such fixed rate funding looks reasonably attractive now as we have seen inflation and interest rates rising since then. If you note the fund’s 26% exposure to Special Purpose Acquisition Vehicles (SPACs), this is not that dissimilar to the amount of preferred stock funding. I would therefore not necessarily conclude that leverage is increasing the overall levels of risk. The long history of expertise Bulldog Investors have in SPACs, and their underlying risk / reward characteristics should be considered. SPE SPAC exposure For those that do not follow SPACs closely, it might raise concerns if you have noticed articles in the last couple of years referring to the SPAC boom. This does not however preclude rational participants making good risk adjusted returns in the same area. Bulldog Investors have identified this niche asset class as an area suitable for their level of funds under management to exploit. To quote from their 2020 Annual Report, they were “into SPACs when SPACs weren’t cool”. More recently in the 2021 Annual Report, they reemphasized why they continue to make significant allocations to this area of the market. Below is a direct quote: “Bulldog continues to expect the Fund to achieve a return of between 5% and 8% per annum from a diversified portfolio of SPACs with minimal or no loss on any individual SPAC investment primarily because of the redemption feature that is baked into every SPAC.” On balance, the strategy of SPE using leverage, and then allocating a similar amount to SPACs is consistent with aiming to achieve equity like returns with lower risk. Are the current CEF activism opportunities special? It has been a difficult year in 2022 for CEFs not only due to the equity bear market, but Bond CEFs have also suffered. This is evident from the table below: Refinitiv Lipper CEF Report June 2022 This environment might well be a good hunting ground for an activist like Bulldog Investors. Activism campaigns can resonate more with shareholders during such difficult times. Below is a recent snapshot of SPE’s top holdings. CEF Connect SPE Portfolio Characteristics General American Investors Fund (GAM), Central Securities Corporation (CET) and Adams Diversified Equity Fund (ADX) are broad based exposure to U.S. equities. These are not so much likely to be activism targets, but lately offer attractive discounts to NAV of circa 15%. The Taiwan Fund (TWN) is an example of a CEF holding that has seen discounts of 15-20% over the last few years, which may lead to activism. SPE owns this amongst others where it notes significant level of institutional ownership in the CEF. Should discounts further widen in these instances, shareholders may push for a liquidity event. Risks The returns of SPE over the last decade might be viewed as disappointing to some even allowing for the objective of taking less risk. It is a large performance gap to the S&P 500 index, even though the fund manager does acknowledge the weakness of using this comparison. This issue might further be compounded if one invests in SPE during the rare times it trades very close to its NAV. I doubt catalysts exist to close the discount gap on a sustained basis. Despite them trying initiatives such as monthly distribution payments a few years ago, the discount looks to be permanent.

Seeking Alpha • Jul 06

Special Opportunities Fund declares $0.11 dividend

Special Opportunities Fund (NYSE:SPE) declares $0.11/share monthly dividend, in line with previous. Forward yield 10.61% Payable July 29; for shareholders of record July 20; ex-div July 19. Payable Aug. 31; for shareholders of record Aug. 22; ex-div Aug. 19. Payable Sept. 30; for shareholders of record Sept. 21; ex-div Sept. 20. See SPE Dividend Scorecard, Yield Chart, & Dividend Growth.

Seeking Alpha • Apr 26

SPE: Worth A Look At This Unique Fund

SPE recently finished its tender offer; I used my proceeds to repurchase a larger position. This fund isn't for everyone, but I believe its uniqueness is attractive as a diversifier in an investor's portfolio. For income investors, the predictability of their 8% managed distribution plan should be positive.

Seeking Alpha • Mar 30

Act Fast If You Want To Take Advantage Of SPE Tender Offer

Special Opportunities Fund's tender offer to buy shares at 97% of NAV (i.e. at a 3% discount) looks even better now that the price has fallen to a 7.5% discount. The difference of 4.5% represents an extra 72 cents per share above the market price. Obviously nothing is a sure thing and the market could always boost the price and eliminate the advantage to tendering. Activists who sponsor tender offers like this are hoping most investors will ignore them, thus increasing the benefit for the investors who do take advantage of them. This is an unusual case where the "activist" shareholder is also the fund manager, having taken the fund over about 13 years ago.

Seeking Alpha • Feb 27

SPE: Activist Black-Box Fund With A 9% Yield

SPE is a closed end fund that holds other CEFs, BDCs and SPACs without a prevailing risk factor per-se. Special Opportunities Fund has a very broad mandate being able to significantly tweak allocations as per its own risk appetite metrics. SPE has produced robust trailing total returns, but an investor in the fund is ultimately buying into the trading acumen of Bulldog Investors, the investment advisor. SPE fund has adopted a managed distribution plan for 2022.

Seeking Alpha • Aug 08

SPE: Deep Discount, Attractive 8.3%+ Distribution And Appealing Portfolio

Now that the convertible preferred is all taken care of, we have a bit more clarity on the valuation of the fund. The latest pricing and NAV updates give us an estimated discount of 7.30%, which is quite appealing. This fund is a unique CEF that can add a bit of diversification to almost any portfolio.

Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	1/6
Financial Health	5/6
Dividends	3/6

Historical stock prices
Current Share Price	US$13.25
52 Week High	US$15.98
52 Week Low	US$13.14
Beta	0.76
1 Month Change	0.17%
3 Month Change	-7.34%
1 Year Change	-14.57%
3 Year Change	15.72%
5 Year Change	-14.02%
Change since IPO	-12.40%

	SPE	US Capital Markets	US Market
7D	-2.9%	-2.5%	-2.0%
1Y	-14.6%	-0.3%	15.1%

SPE volatility
SPE Average Weekly Movement	1.5%
Capital Markets Industry Average Movement	3.8%
Market Average Movement	7.1%
10% most volatile stocks in US Market	16.1%
10% least volatile stocks in US Market	3.2%

SPE fundamental statistics
Market cap	US$142.24m
Earnings (TTM)	US$19.54m
Revenue (TTM)	US$7.64m

SPE income statement (TTM)
Revenue	US$7.64m
Cost of Revenue	US$0
Gross Profit	US$7.64m
Other Expenses	-US$11.91m
Earnings	US$19.54m

Earnings per share (EPS)	1.84
Gross Margin	100.00%
Net Profit Margin	255.89%
Debt/Equity Ratio	0%

Special Opportunities Fund dividend dates
Ex Dividend Date	Jul 21 2026
Dividend Pay Date	Jul 31 2026
Days until Ex dividend	3 days
Days until Dividend pay date	7 days

Data	Last Updated (UTC time)
Company Analysis	2026/07/23 10:44
End of Day Share Price	2026/07/23 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Special Opportunities Fund (SPE) Stock Overview

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Special Opportunities Fund, Inc. Competitors

Price History & Performance

Recent News & Updates

Special Opportunities Fund Announces Distributions for Third Quarter of 2026, Payable on July 31, 2026, August 31, 2026 and September 30, 2026

Special Opportunities Fund Announces Monthly Distributions for Second Quarter of 2026 Under the Fund's Managed Distribution Plan to Common Stockholders for the Months of April , May and June 2026, Payable on April 30, 2026, May 29, 2026 and June 30, 2026, Respectively

SPE Vs. BRW: High Yields, Weak Compounding -- Neither Is Cheap Enough

Special Opportunities Fund Declares Distributions for the Month of January 2026, Payable on January 30, 2026

Special Opportunities Fund, Inc. Announces Year-End Distribution, Payable on January 30, 2026

Special Opportunities Fund, Inc., Annual General Meeting, Dec 11, 2025

Recent updates

Special Opportunities Fund Announces Distributions for Third Quarter of 2026, Payable on July 31, 2026, August 31, 2026 and September 30, 2026

Special Opportunities Fund Announces Monthly Distributions for Second Quarter of 2026 Under the Fund's Managed Distribution Plan to Common Stockholders for the Months of April , May and June 2026, Payable on April 30, 2026, May 29, 2026 and June 30, 2026, Respectively

SPE Vs. BRW: High Yields, Weak Compounding -- Neither Is Cheap Enough

Special Opportunities Fund Declares Distributions for the Month of January 2026, Payable on January 30, 2026

Special Opportunities Fund, Inc. Announces Year-End Distribution, Payable on January 30, 2026

Special Opportunities Fund, Inc., Annual General Meeting, Dec 11, 2025

Special Opportunities Fund, Inc. announces Monthly dividend, payable on November 28, 2025

Special Opportunities Fund, Inc. Declares the Next Three Monthly Distributions for July, August and September 2025, Payable on July 31, 2025, August 29, 2025 and September 30, 2025, Respectively

Special Opportunities Fund, Inc. Declares the Next Three Monthly Distributions for April, May and June 2025, Payable on April 30, 2025, May 30, 2025 and June 30, 2025, Respectively

SPE: Discount To NAV Normalized; Downgrade To Hold

Special Opportunities Fund, Inc. Declares Distributions for January Month of 2025, Payable on January 31, 2025

Special Opportunities Fund, Inc., Annual General Meeting, Dec 11, 2025

SPE: Solid Performance While Deep Discount Persists

Special Opportunities Fund, Inc. Declares Distributions for Third Quarter of 2024, Payable on July 31, 2024, August 30, 2024 and September 30, 2024 Respectively

SPE: A Diversified Fund Trading At A Significant Discount

Special Opportunities Fund, Inc. Declares Three Monthly Distributions of Second Quarter of 2024, Payable on April 30, 2024, May 31, 2024 and June 28, 2024

SPE: Distribution Set To Increase In 2024

Special Opportunities Fund, Inc., Annual General Meeting, Dec 07, 2023

Special Opportunities Fund Declares Distributions for Fourth Quarter of 2023, Payable on October 31, 2023, November 30, 2023 and December 29, 2023 Respectively

SPE: The Ironic Special Discount, Greater Action Needed

Special Opportunities Fund, Inc. Declares Three Monthly Distributions of Third Quarter of 2023, Payable on July 31, 2023; August 31, 2023 and September 29, 2023

Special Opportunities Fund: Opportunistic Investing CEF With Multiple Levels Of Discounts

Special Opportunities Fund, Inc. Declares Three Monthly Distributions of First Quarter of 2023, Payable on January 31, 2023; February 28, 2023 and March 31, 2023

Special Opportunities Fund dividend declines by 21.2% to $0.0867

SPE: Distribution Set To Decline In 2023

Special Opportunities Fund declares $0.11 dividend

Special Opportunities Fund: Bulldog Investors Show Some Bite Over The Full Cycle

Special Opportunities Fund declares $0.11 dividend

SPE: Worth A Look At This Unique Fund

Act Fast If You Want To Take Advantage Of SPE Tender Offer

SPE: Activist Black-Box Fund With A 9% Yield

Special Opportunities Fund, Inc. Declares Long Term Capital Gains, Payable on December 31, 2021

SPE: Deep Discount, Attractive 8.3%+ Distribution And Appealing Portfolio

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