SPE News and Press, Special Opportunities Fund Inc From 10/29/22

Summary Ten months of this troubling 2022 have passed, and my overall portfolio is beginning to take its final shape. Some positions have long since been completed, while for others, I am taking small acquisition steps each time the market turns downward. In spite of everythin...

Special Opportunities Fund, Inc. (NYSE: SPE) (the “Fund”) today announced that the Fund’s Board of Directors (the “Board”) has declared the next three monthly distributions under the Fund’s managed distribution plan. Under the Fund’s ...

Summary Credit asset classes (corporate loans, high yield bonds, etc.) pay investors interest (i.e. real cash). So even when all assets (stocks, bonds, etc.) are dropping in price, funds that hold credit assets keep cranking out the cash to pay distributions. They don't have t...

Summary I created my main income portfolio, based on closed-end funds, during the financial crash that occurred in the spring of 2020. Over the course of 2021, I gradually lightened my positions, taking advantage of the vehement rise in the market, and set aside the resulting liqu...

Summary SPE comprises a unique blend of investments of other investment companies, SPACs, equity positions and fixed-income holdings. They have recently announced they are suing one of their underlying SPACs. It is a relatively small holding, but it is still a good sign they a...

Summary August was a month of significant changes in the structure of my overall portfolio, which now contains 22 securities. Thanks to the gain from the last securities that I purchased in the spring, I was able to close all previous positions that had been showing a continuous l...

Summary PCF is managed by Bulldog Investors, an activist group in the CEF space. They know the allure of higher yields, which PCF has a 10% managed distribution plan. The fund traded at a sharp premium, then the rights offering pushed it to trade at a discount where it remains...

Summary The Invesco CEF Income Composite ETF PCEF is a fund-of-funds that was structured as an exchange traded fund. The vehicle contains over 150 CEF names in its portfolio. Despite the high yielding nature of the underlying collateral PCEF has mediocre long term annualized t...

The High Income Securities Fund (PCF) is a fund-of-funds with a small AUM of only $135 mm. PCF counts as its largest holdings other CEFs (26%), BDCs (17%), Preferred Stocks (20%), SPACs (20%) and Money market funds (11%). The vehicle has a good recent performance with a 3-year loo...

Special Opportunities Fund, Inc. (NYSE: SPE) today announced that the parties to litigation over the dissolution of FAST Acquisition Corp. (NYSE: FST) have reached an agreement to prevent the distribution of the Company’s net assets to Class B shares until the Court rules on whet...