What is Special Opportunities Fund, Inc.'s Shariah compliance score?

Special Opportunities Fund, Inc.'s (SPE) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Special Opportunities Fund, Inc. pass AAOIFI screening?

Special Opportunities Fund, Inc. (SPE) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (SPE: 0.0%), (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. HalalScreener provides free AAOIFI screening for 6,200+ stocks at halalscreener.app.

How much purification is needed for Special Opportunities Fund, Inc. stock?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the exact percentage and amount for Special Opportunities Fund, Inc. (SPE) using the latest financial data.

Where can I screen Special Opportunities Fund, Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Special Opportunities Fund, Inc. (SPE) and 5,100+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows the verdict, compliance grade, score, and debt ratio free. No credit card or signup required for basic screening; the full ratio breakdown is part of Pro. HalalScreener also includes an AI Islamic Scholar for follow-up questions about SPE's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

SPE: Is Special Opportunities Fund, Inc. Halal?

Special Opportunities Fund, Inc.

NYSEFinancial ServicesUS

$13.39

+0.37%

Market Cap: 142.2M

Compliance Status

Not Halal

Screened on Aug 26, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Special Opportunities Fund, Inc. (SPE) halal? Not Halal. Based on AAOIFI screening, Special Opportunities Fund, Inc. has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

Basket rule

Over the limit

An ETF is halal when non-compliant holdings stay under 5% of the basket by weight.

48.3% of 5.0% limit

57% of the basket's holdings were screened individually.

About Special Opportunities Fund, Inc.

Special Opportunities Fund, Inc., overseen by Bulldog Investors, LLC, operates as a closed-end balanced "fund of funds." This investment vehicle primarily deploys capital into other closed-end funds that hold positions in public equity and fixed-income securities. Its investment methodology is characterized by a blend of value-driven, opportunistic, and special situations strategies. The fund's performance is benchmarked against the S&P 500 Index. Historically, it was known as the Insured Municipal Income Fund, Inc. Formed on February 18, 1993, the fund is domiciled in the United States.

Sector: Financial Services · Industry: Asset Management

Shariah Compliance Status

AAOIFI Standard 21Updated Aug 26, 2026

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Basket-weighted haram holdings exceed 5% (48.3%)

Basket Composition

57% of basket screened

ETFs are baskets of many stocks. AAOIFI-aligned rule: basket is halal when haram weight is under 5%. The purification share is the weighted prohibited-income contribution of the underlying holdings.

48%

44%

Halal8%

Doubtful0%

Not Halal48%

Unknown44%

Top Holdings

STEWSRH Total Return Fund IncNot Halal8.51%GAMGeneral American Investors Company, Inc.Not Halal7.29%TPLTexas Pacific Land CorporationHalal5.08%CETCentral Securities CorporationUnder Review4.86%TRCTejon Ranch CoNot Halal4.20%Bny Mellon Strategic Muni Bd Fd IncUnknown3.97%NBXGNeuberger Next Generation Connectivity Fund Inc.Not Halal3.78%CIONCION Investment Corp.Not Halal2.77%Bexil Investment TrustUnknown2.27%OTFBlue Owl Technology Finance Corp.Not Halal1.94%

Fiscal: N/AData source: FMP-LOOKTHROUGH

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

GLDA+

SPDR Gold Shares

$398.55

+0.17%

SLVA+

iShares Silver Trust

$57.44

+0.47%

PSLVA+

Sprott Physical Silver Trust

$21.30

+6.23%

PHYSA+

Sprott Physical Gold Trust

$31.75

+0.19%

CEFA+

Sprott Physical Gold and Silver Trust

$43.28

+4.44%

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PYPL

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BAC

Bank of America Corporation

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Wells Fargo & Company

Free · No credit card required

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Frequently Asked Questions

Is Special Opportunities Fund, Inc. (SPE) halal to invest in?

Special Opportunities Fund, Inc. (SPE) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Special Opportunities Fund, Inc. get a F compliance rating?

Special Opportunities Fund, Inc.'s compliance grade is determined by AAOIFI Standard 21 screening, a two-step process: (1) qualitative screen for prohibited business activities and (2) quantitative check of debt, interest deposits, and prohibited income ratios. Scroll up to see the detailed ratio breakdown.

What could change Special Opportunities Fund, Inc.'s Shariah verdict?

Special Opportunities Fund, Inc.'s verdict is recalculated whenever the fund rebalances or holdings change materially. If the haram-weight of underlying holdings crosses 5% (the AAOIFI threshold for fund look-through), the verdict will flip to Not Halal. HalalScreener rescreens ETFs at each rebalance cycle.

How often is Special Opportunities Fund, Inc. re-screened for Shariah compliance?

Special Opportunities Fund, Inc. (SPE) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Aug 26, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.