Special Opportunities Fund looks for appreciation in other closed-end funds, company shares and corporate events. Cash from those holdings can help distributions, while discounts and deal outcomes can make results uneven.
Business
Special-situations income CEF
Listing
SPE · XNYS
Reporting period
2026-06-30
Dividend schedule
Monthly
How the business works
Interest and dividends after fund expenses become net investment income. Changes in underlying fund discounts, trading gains and corporate-event outcomes affect net asset value separately.
Extras are shown separately and are not assumed to repeat.
Reported earnings
Each measure shown separately, per share
Net investment income$0.24
Jan 1, 2026 to Jun 30, 2026
$0.00$0.24
Distribution yield9.79%Sourced distributions divided by dated market priceTrailing 12-month income yieldNot availableAvailable income covers Jan 1, 2026 to Jun 30, 2026, less than or different from 12 months. It has not been annualized.Annual dividend$1.30Current regular payment annualized per shareDistribution supportSee period evidenceCash distributions, NAV and reported returns are shown separately; no earnings-coverage ratio is assigned.
Verified dividend dates and payment components
Issuer announcements supplement the recorded totals above. Each declared payment is shown separately. Additional payments are not assumed to repeat.
The latest four recorded reporting periods. Each issuer measure keeps its own name and dates. These source records supplement the Fly High figures above; different measures are not added together or assumed comparable.
Reviewed USD market closes or SEC-reported prices matched to NAV dates. A different price date or split adjustment is shown in the label.
Cash distributions and reported returns
Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.
NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.
Distribution and NAV evidence
Cash paid, opening and closing NAV, and the fund-reported NAV total return are separate observations. NAV change excludes distributions. These figures show outcomes, not which source funded a payment or whether future distributions are sustainable.
Losses or weaker cash generation in discounted funds and special-situation securities can reduce the resources available for future distributions.
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A change can affect future shareholder cash payments or the capital supporting them.
Leverage and financing
The current data service reports effective leverage of 25.16%. Financing magnifies gains and losses, and borrowing costs reduce income available to common shareholders.
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A change can affect future shareholder cash payments or the capital supporting them.
The assets behind the earnings
How SPE makes money
Financial snapshot: 2026-06-30. Research reviewed 2026-09-18. Source dates are retained with each measure; historical results are not a forecast.
The assets it owns
$166.252 million net assets171 holdings · As of 3/31/2026
Net assets checked 2026-09-11. Borrowings and preferred financing are excluded from this net-assets figure.
A complete, comparable portfolio allocation is not available for this chart. No percentages have been estimated.
Fund net investment income per common share; actual reporting period, not annualized$0.2400
$0.00$0.30
For the six months ended June 30, 2026, SPE reported $0.24 of net investment income and $0.65 of distributions per share. Net asset value fell from $16.31 to $15.85. Income explained part of the cash, while investment results and payment components complete the period view.
Portfolio dividends and interest, realized investment results and any option activity contribute to distribution resources after expenses. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.
The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.
The portfolio information checked September 11, 2026 reports effective leverage of 25.16%.
Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.
Special Opportunities Fund, Inc. reported $0.2400 per share for 2026-01-01 through 2026-06-30, measured as Fund net investment income per common share; actual reporting period, not annualized.
Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.
Losses or weaker cash generation in discounted funds and special-situation securities can reduce the resources available for future distributions.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
Compare the next like-length income and cash paid with major holdings' discounts, corporate events, payment components and net asset value.
Net asset value (NAV)
NAV per share$15.0900Sep 25, 2026Market price$12.9300Sep 25, 2026PREMIUM / DISCOUNT TO NAV14.31% discountCalculated from the displayed same-date values.
NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.
CEFConnect common-share NAV and Marketstack USD closing market price, both dated 2026-09-25. The premium or discount is calculated from the NAV and close observed on this same date. Older audited NAV history remains unchanged.
Reported net investment income per common share: $0.24 for 2026-01-01 through 2026-06-30; not annualized.
What to watch next
Compare the next like-length income and cash paid with major holdings' discounts, corporate events, payment components and net asset value.
Fly High context
Compare the next like-length income and cash paid with major holdings' discounts, corporate events, payment components and net asset value.
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U.S. federal · Tax year 2025
Dividend tax treatment
The fund classified its 2025 common-share distributions as ordinary income and long-term capital gain. The mix can change each year.
Total ordinary dividends
48.93%
Qualified dividends
Not confirmed
Capital-gain distributions
51.07%
Return of capital
0%
Tax year: 2025. Total distributions: $2.00 per share.
Tax details and source
Total ordinary dividends (includes qualified)
48.93%
Section 199A portion (within ordinary dividends)
Not confirmed
Exempt-interest distributions
0%
Reporting form
Form 1099-DIV
Source date
Not stated
Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.
Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.
