SPE News and Press, Special Opportunities Fund Inc From 03/07/22

The market rallied back from two and a half weeks of losses to finish the week in the green. The "sell the rumor, buy the news" adage comes to mind. It is unlikely we are out of the woods just yet - especially if the war escalates to include neighbors, or worse, NATO. I would be cauti...

Special Opportunities Fund, Inc. (NYSE: SPE) (the “Fund”) today announced that it is offering to purchase up to 1.25 million common shares of the Fund at 97% of the net asset value (“NAV”) per common share as determined at the close of the regular trading ses...

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 re...

An American expert on horse race betting, Andrew Beyer, defined the psychological aspects related to the behavior of gamblers in two categories: “prime bets” and “action bets”. CEFs composing my Cupolone Income Portfolio are “prime bets;” they...

Special Opportunities Fund, Inc. (NYSE: SPE) (the “Fund”) announced today that its rights offering to purchase up to 2,542,593 shares of a newly issued class of Convertible Preferred Stock at $25.00 per share expired on January 21, 2022. Based on preliminary results pr...

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 dividends under the Fund’s managed distribution plan. Under the Fund’s mana...

NAV performance, discount on NAV, and leverage constitute the three main parameters of my rule of thumb to select funds for a long-term CEF portfolio. I’m contemplating adding a fourth metric, Total Return, which is calculated based on the amount of distributions plus the chang...

Special Opportunities Fund, Inc. (NYSE: SPE) (the “Fund”) announced today that it will issue to its common stockholders of record as of December 20, 2021 one transferable right for every five shares of common stock held (rounded up for fractional rights) entitling the hold...

Special Opportunities Fund, Inc. (NYSE: SPE) (the “Fund”) today announced that the Fund’s Board of Directors has declared a year-end cash dividend of $0.69763 per share of common stock which is estimated to consist of $0.30824 of long term capital gains, $0.28189 of...

As a tool to evaluate candidates for a long-term CEF portfolio, I formulated a simple “rule of thumb” based on the interactions among NAV performance, discount/premium on NAV, and leverage. For a safe CEF investment, this rule of thumb suggests first choosing CEFs with a...