Special Opportunities Fund, Inc. $SPE Shares Sold by Rivernorth Capital Management LLC

Rivernorth Capital Management LLC trimmed its stake in shares of Special Opportunities Fund, Inc. (NYSE:SPE) by 78.9% in the second quarter, Holdings Channel.com reports. The fund owned 17,348 shares of the closed-end fund’s stock after selling 64,721 shares during the period. Rivernorth Capital Management LLC’s holdings in Special Opportunities Fund were worth $234,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SPE. Global Retirement Partners LLC acquired a new stake in shares of Special Opportunities Fund in the 2nd quarter worth approximately $50,000. Detalus Advisors LLC acquired a new position in Special Opportunities Fund during the first quarter worth $144,000. Patron Partners LLC purchased a new stake in Special Opportunities Fund during the second quarter worth $192,000. TrueMark Investments LLC grew its holdings in Special Opportunities Fund by 8.7% in the first quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund’s stock valued at $223,000 after purchasing an additional 1,293 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in Special Opportunities Fund by 19.5% in the second quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock valued at $362,000 after purchasing an additional 3,811 shares during the last quarter. Hedge funds and other institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Stock Performance

Shares of SPE stock opened at $13.56 on Monday. Special Opportunities Fund, Inc. has a fifty-two week low of $13.02 and a fifty-two week high of $15.98. The business has a fifty day simple moving average of $13.40 and a 200-day simple moving average of $13.92.

Special Opportunities Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be issued a dividend of $0.1087 per share. This represents a c) annualized dividend and a yield of 9.6%. The ex-dividend date is Tuesday, September 22nd.

About Special Opportunities Fund

Special Opportunities Fund (NYSE: SPE) is a closed-end management investment company that seeks to deliver attractive total return by investing across corporate capital structures. The fund primarily allocates capital to debt and equity securities of both public and private issuers, with a focus on special situations, distressed credits and event-driven opportunities.

The fund’s flexible, multi-asset strategy allows portfolio managers to shift allocations among high-yield bonds, leveraged loans, convertible securities, preferred stock and equity positions.