106,337 Special Opportunities Fund, Inc. $SPE Shares Sold by Shaker Financial Services LLC

Shaker Financial Services LLC reduced its position in Special Opportunities Fund, Inc. (NYSE:SPE) by 16.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 558,655 shares of the closed-end fund’s stock after selling 106,337 shares during the quarter. Special Opportunities Fund comprises about 2.3% of Shaker Financial Services LLC’s holdings, making the stock its 6th largest position. Shaker Financial Services LLC owned 0.05% of Special Opportunities Fund worth $7,061,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SPE. Concurrent Investment Advisors LLC increased its holdings in shares of Special Opportunities Fund by 31.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 94,611 shares of the closed-end fund’s stock valued at $2,687,000 after acquiring an additional 22,399 shares during the period. TrueMark Investments LLC raised its position in Special Opportunities Fund by 8.7% in the 1st 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. Susquehanna International Group LLP boosted its stake in Special Opportunities Fund by 30.6% during the 2nd quarter. Susquehanna International Group LLP now owns 15,435 shares of the closed-end fund’s stock worth $208,000 after purchasing an additional 3,614 shares during the period. Patron Partners LLC acquired a new stake in Special Opportunities Fund during the 2nd quarter worth $192,000. Finally, Detalus Advisors LLC acquired a new stake in Special Opportunities Fund during the 1st quarter worth $144,000. 35.60% of the stock is currently owned by hedge funds and other institutional investors.

Special Opportunities Fund Trading Down 1.5%

Special Opportunities Fund stock traded down $0.18 during midday trading on Wednesday, hitting $12.38. 36,999 shares of the company’s stock were exchanged, compared to its average volume of 40,659. Special Opportunities Fund, Inc. has a 12-month low of $12.40 and a 12-month high of $15.59. The firm’s 50 day simple moving average is $13.19 and its 200 day simple moving average is $13.58.

Special Opportunities Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 22nd will be paid a dividend of $0.1087 per share. The ex-dividend date is Tuesday, December 22nd. This represents a $1.30 annualized dividend and a dividend yield of 10.5%.

About Special Opportunities Fund

Special Opportunities Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol SPE. The fund seeks to provide investors with total return through a flexible, opportunistic investment strategy rather than focusing on a single industry or geographic market.

The fund primarily invests in other closed-end funds and may also invest in business development companies, special purpose acquisition companies, and other publicly traded securities.