Special Opportunities Fund, Inc.·Financial Services
Special Opportunities Fund, Inc. is a close-ended balanced fund of funds launched and managed by Bulldog Investors, LLC. It invests in close-ended funds investing in public equity and fixed income markets. The fund employs a combination of value, opportunistic and special situations strategies to make its investments. It benchmarks the performance of its portfolio against the S&P 500 Index. The fund was previously known as Insured Municipal Income Fund, Inc. Special Opportunities Fund, Inc. was formed on February 18, 1993 and is domiciled in the United States.
Financial Services
Asset Management
1993-05-28
0.79

Special Opportunities Fund (SPE) and Saba Capital Income & Opportunities Fund (BRW) both offer double-digit yields and discounts but differ in income sources and risk profiles. SPE is a fund-of-funds with engineered payouts, fee layering, and uneven, event-driven returns; BRW is more aggressive, complex, and relies on activist strategies and direct income. Neither SPE nor BRW acts as a compounder; both suffer from inconsistent distributions, complexity, and lack of price appreciation, keeping them at persistent discounts.

My income portfolio prioritizes resilient, high-dividend securities with long-term positive NAV trends rather than trading based on unpredictable short-term price movements. Therefore, I focus on funds that have demonstrated value creation since launch, especially those with at least a decade of performance history, with its accompanying ups and downs. In this article, I show how the NAVs of all my securities behaved during the worst moments of their existence and how they largely rebounded.

NEW YORK, Jan. 27, 2026 (GLOBE NEWSWIRE) -- Special Opportunities Fund, Inc. (NYSE: SPE) (the “Fund”) today announced that the price at which shares of the Fund's common stock will be issued to common stockholders of record as of December 29, 2025 and payable on January 30, 2026 is $14.9506 which is the volume-weighted average trading price of the Fund's common stock on January 20, 21, and 22, 2026.

The Special Opportunities Fund leverages activist strategies in CEFs, BDCs, and SPACs to exploit market inefficiencies and deliver alpha. SPE currently offers a forward distribution yield of 8.73%, with a trailing 12-month yield around 13.5% due to a special year-end payout. The fund's 'double discount' approach allows investors to access assets at roughly 80 cents on the dollar, with management actively pursuing discount narrowing.