SPE: Distribution Set To Increase In 2024 [Seeking Alpha]
Special Opportunities Fund, Inc (SPE)
US:NYSE Investor Relations:
specialopportunitiesfundinc.com/investor_reports.html
Company Research
Source: Seeking Alpha
Looking forward, with sold performance in 2023, the SPE fund will likely raise its distribution in the new year. This will likely help the fund narrow its discount to NAV. The SPE fund also has ample cash / money market securities on hand to fund a buyback if the discount persists. Last year, I predicted that the Special Opportunities Fund ( NYSE: SPE ) would have to cut its distribution in 2023. Based on the November 2022 NAV of $13.18, I estimated SPE's monthly distribution would be cut to ~$0.088. Sure enough, the SPE fund cut its distribution in early 2023 from $0.11 / month to $0.0867 / month, almost bang on with my estimate (Figure 1). Did I have a crystal ball to foresee the distribution cut? No, I simply paid attention to the fund's structure and setup. Since we know the SPE fund pays a managed distribution ("MDP" policy) with an annual rate of 8% of the prior year's NAV, by December, we usually have a good sense of what the next year's distribution will be. Current
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SPE
News
- SPE: A Diversified Fund Trading At A Significant Discount [Seeking Alpha]Seeking Alpha
- SPE: This CEF Remains Attractive And Provides A Monthly Distribution [Seeking Alpha]Seeking Alpha
- Special Opportunities Fund Declares Distributions For Second Quarter of 2024Business Wire
- Special Opportunities Fund, Inc. Dividend DeclarationBusiness Wire
- CCEF: New Addition To The Fund-Of-CEFs Space [Seeking Alpha]Seeking Alpha
SPE
Sec Filings
- 3/11/24 - Form N-CEN
- 3/6/24 - Form N-CSR
- 2/27/24 - Form NPORT-P
- SPE's page on the SEC website