Guggenheim Strategic Opportunities Fund (GOF) Faces Investor Scrutiny Amid Report On Distributions Funding, Portfolio Quality - HBSS

SAN FRANCISCO, Aug. 28, 2026 /PRNewswire/ -- On August 20, 2026, investors in closed end fund Guggenheim Strategic Opportunities Fund (NYSE: GOF) saw the price of their shares slide about 6.6% lower on a report questioning how over the last eight years the fund could distribute $1.74 billion to its shareholders while generating only about a third of that in earnings.

The report and market response have prompted national shareholders rights firm Hagens Berman to open an investigation into whether the fund and its investment advisors (Guggenheim Funds Investment Advisors and Guggenheim Partners Investment Management) have been sufficiently transparent about the fund's investment quality, investment liquidity, and distribution risks.

The firm encourages GOF investors who suffered substantial losses to submit your losses now. Persons with knowledge who may be able to assist the investigation are invited to contact the firm's attorneys.

Visit: www.hbsslaw.com/gof

Guggenheim Strategic Opportunities Fund (GOF) Investigation:

Hagens Berman has opened its investigation because of some potentially serious accusations made about the fund on August 20, 2026, when The Bear Cave published "Problems at Guggenheim Strategic Opportunities Fund (GOF)."

According to Bear Cave, [f]or eight years, GOF has paid shareholders a distribution far above what its portfolio has earned [….] [b]y selling billions of dollars of new shares at a premium to NAV." 

Regarding the quality of the fund's portfolio, Bear Cave quoted a former Guggenheim executive as saying "'[i]t was kind of a dumping ground[,]'" and "'it was full of the yieldiest pieces of crap' that were 'very illiquid' with 'chunky exposure.'"

Regarding the fund's distributions exceeding portfolio earnings, the report concluded that the premium of the fund's market price over net asset value ("NAV") gave it a "Magic Money Machine" that allowed it to issue new shares "above NAV, month after month, and use the proceeds from those share sales to fund its dividend."

Bear Cave continued, "[t]he problem is what happens when the premium compresses to the point that GOF's issuance machine no longer works – a zone GOF entered this month[,]"and "[a]t a thin enough premium (or a negative premium!), the existing funding mechanism of an ATM (at-the-market facility) can shut off entirely."

"We're focused on whether Guggenheim Strategic Opportunities Fund has operated outside of Investment Company Act requirements and, if so, whether it intentionally did so. We're also looking at whether there may have been undisclosed related party transactions with affiliates of Guggenheim or its management," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.

If you invested in Guggenheim Strategic Opportunities Fund and have substantial losses, or have knowledge that will assist the firm's investigation, submit your losses now »

Whistleblowers: Persons with non-public information regarding Guggenheim Strategic Opportunities Fund should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.

About Hagens Berman
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SOURCE Hagens Berman Sobol Shapiro LLP