Fund Description: Special Opportunities Fund, Inc., formerly the Insured Municipal Income Fund, is an exchange-traded closed-end fund or a closed-end ETF that is officially described as a diversified, closed-end management investment company. <p> INVESTMENT OBJECTIVE: The Special Opportunities Fund, Inc.seeks to achieve a high level of total return. <p> FUND STRATEGY: The Fund employs an opportunistic investment philosophy with a particular emphasis on investing in discounted closed-end funds, undervalued operating companies, and other attractive special situations including risk arbitrage and distressed securities. <p> FUND MANAGEMENT: Bulldog Investors LLC serves as the investment advisor to the Fund.