What is the Symbol of Special Opportunities Fund Inc?
If you are trying to buy shares of a company that is listed on the NYSE, it can be confusing as to what the symbol of that particular stock is. This is a common question that many investors ask. Here is a quick overview of a few of the symbols you will come across.
NYSE: SPE
If you’re in the market for a closed-end management company, then the Special Opportunities Fund (NYSE: SPE) might be the best fit. The fund’s mission is to provide a total return through opportunistic investing in securities of issuers. Its portfolio consists of liquidating trusts, convertible bonds, and money market funds, among others.
The fund also boasts an impressive number of institutional owners. In its latest filing with the Securities and Exchange Commission, the fund revealed a whopping 209 holdings. Investors can view the most recent shareholder reports online. The portfolio’s value is estimated to be around 201 million US dollars.
The fund’s Performance Report section is a veritable trove of information. In the course of analyzing its data, the firm discovered its portfolio had a few standouts. Of particular interest was its ability to out-performance its benchmark, the S&P 500. This is attributed to several factors, including the fund’s ability to purchase high-quality, underpriced closed-end funds.
The most exciting part of the whole venture is the fund’s ability to make timely, well-researched, and prudent decisions. For example, in the first week of February, the fund entered into a binding standstill agreement with Delaware Enhanced Global Dividend and Income Fund (US:DEGI) to buy up to 30 percent of its issued and outstanding common shares at a price equal to 97 percent of the net asset value per share. Among the benefits of the deal were the promise of an annual dividend.
Several other noteworthy developments have taken place over the past few weeks. For instance, the fund’s board of directors declared a record high cash dividend on the 2.75% Convertible Preferred Stock, Series C. There was also a noteworthy announcement in the form of a new class of Convertible Preferred Stock. This is the best possible news for investors in the fund.
Aside from the usual suspects, the company has recently snagged several other notable entrants, including Lamington Road DAC (IE:USG5364FAA69) and BIG SKY GROWTH PARTNERS INC CL A (US:08954L102). These are among the newest additions to the fund’s portfolio, which in total comprises of 209 holdings.
Investments
The Fund is a closed-end management investment company that invests in the equity securities of mid-sized companies and other closed-end investment companies. Its investment objective is total return.
The Fund’s principal investment strategies are opportunistic and value-based. For example, it may purchase equity securities, such as common stocks, convertible securities, and warrants, when they are trading at a discount from NAV. A convertible security is a type of security that can be converted into a predetermined number of shares of underlying common stock.
Special Opportunities Fund’s portfolio includes investments in the following securities: corporate bonds, government debt, preferred stocks, and convertible bonds. Other securities that may be invested in include money market funds, real estate investment trusts, liquidating trusts, personal products, and healthcare equipment.
Foreign investments, including foreign government debt and global depository receipts, are subject to the risks associated with foreign governments. These risks include political instability, currency exchange rate fluctuations, and unreliable information. Also, lower quality debt tends to be susceptible to decline in market value, making it a speculative and risky investment.
Other closed-end investment companies are also subject to similar risks. Although the Fund does not invest directly in the securities of other closed-end investment companies, it is possible that the Fund will enter into contracts with them. In addition, the Fund may be required to pay expenses and fees to the other closed-end investment companies in which it invests.
The Fund’s investment performance is reviewed by the Independent Directors. They met at regular quarterly meetings to discuss the performance of the Fund and review the Adviser’s performance.
They determined that the Adviser had minimized the risk of the Fund and provided reasonable returns for SPE shareholders. Based on these findings, they concluded that the management fee paid to the Adviser was reasonable. However, the Independent Directors did not find that the Adviser’s investment performance was comparable to a peer fund group.
In addition, the independent directors discussed the use of leverage by the Adviser and the selection of comparable funds. They agreed that the Adviser’s continued management of the Fund would be in the best interests of the shareholders.
Dividends declared
The Special Opportunities Fund, Inc. is a recently formed closed-ended balanced fund of funds. This fund utilizes a wide variety of investment strategies to achieve its stated goals.
Specifically, it is a business development company that focuses on investing in middle market companies. It also provides loans to mid-sized businesses. Among other things, it pays a handsome supplemental special dividends when portfolio positions have made sizable gains.
In short, it is a well-managed firm with a stellar track record. It is managed by Bulldog Investors, LLC. A good place to start is the investor’s section of the website. There are links to important pages and the corresponding company’s financial history.
For example, it is interesting to note that the Special Opportunities Fund is actually a subsidiary of the parent company. That is, while the Special Opportunities Fund is a company in its own right, it is a business development company for the parent.
The Special Opportunities Fund’s most recent cash dividend is a modest 0.171875 per share on 2.75% Convertible Preferred Stock, Series C. This is less than the 0.10 cents per share that it paid on January 11, 2011. Since it is a closed-ended fund, the resulting distributions are not guaranteed. However, it’s not a bad idea to take a stab at the stock.
It’s also interesting to note that it took a whopping 202,000 Canadian dollars to buy the stock in the first three months of the year. If you’re looking to invest in the fund, you’d best splurge on shares that have the potential to reward you with high yields. Buying shares is the first step toward building a retirement nest egg.
As with any company, the right information can be the difference between a profitable investment and a squandering. You can find out more about the Special Opportunities Fund by visiting its website. Its stock is traded on the NYSE stock exchange. Moreover, it has projected a 10-year dividend yield. Nevertheless, it’s still a small player in the balanced funds market. So, before making your final decision, you might want to weigh the merits of each stock against your personal financial situation.
Company overview
The financial statements of the Special Opportunities Fund Inc. provide an overview of the financial position of the company as of December 31, 2021. The financial statements include information on changes in the net assets, cash flows, and results of operations. They are prepared in compliance with generally accepted accounting principles.
The fund’s objective is to achieve total return through opportunistic investing in securities of issuers. In order to achieve this goal, the fund invests in a variety of fixed-income markets. Its investment portfolio includes corporate bonds, convertible bonds, money market funds, preferred stocks, consumer finance, and real estate investment trusts. Additionally, the fund also invests in equity securities. This portfolio is benchmarked against the S&P 500 Index.
The investment portfolio of the fund is comprised of a number of closed-end funds. These funds include: the Vanguard Total Return Index Fund (NYSE:VFINX), the S&P 500 Total Return ETF (NYSE:VUSTX), the S&P 500 Equal Weighted Total Return ETF (NYSE:VEUX), and the S&P High Yield Equity ETF (NYSE:SCHEQ). Several investment companies are also part of the fund’s portfolio. Some of these companies are: General American Investors Company (NYSE:GAM), Central Securities Corp. (NYSE:CET), Texas Pacific Land Trust (NYSE:TPLT), and BIG SKY GROWTH PARTNERS INC CL A (NYSE:08954L102).
Special Opportunities Fund Inc’s financial statements are audited by the certified public accountants of the accounting firm Deloitte and Touche. According to the financial statements, the fund’s total net asset value is 201,023,272 USD. As of October 31, 2018, the fund’s investments included 209 holdings. There were also four new positions added in the last month.
The company’s most notable holdings are General American Investors Company, Central Securities Corporation, Texas Pacific Land Trust, and BIG SKY GROWTH PERSONAL DEVELOPMENT PARTNERS. There are also several newly formed positions, such as Lamington Road DAC (NYSE:USG5364FAA69) and Boulder Growth & Income Fund (NYSE:BIF). Currently, the fund has no dividends to pay.