<SEC-DOCUMENT>0001628280-18-003403.txt : 20180321
<SEC-HEADER>0001628280-18-003403.hdr.sgml : 20180321
<ACCEPTANCE-DATETIME>20180320182213
ACCESSION NUMBER:		0001628280-18-003403
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20180321
DATE AS OF CHANGE:		20180320
EFFECTIVENESS DATE:		20180321

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GUGGENHEIM STRATEGIC OPPORTUNITIES FUND
		CENTRAL INDEX KEY:			0001380936
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-221873
		FILM NUMBER:		18702909

	BUSINESS ADDRESS:	
		STREET 1:		227 WEST MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-827-0100

	MAIL ADDRESS:	
		STREET 1:		227 WEST MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CLAYMORE/GUGGENHEIM STRATEGIC OPPORTUNITIES FUND
		DATE OF NAME CHANGE:	20090630

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Claymore/Guggenheim Strategic Opportunities Fund
		DATE OF NAME CHANGE:	20070605

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Claymore Strategic Opportunities Fund
		DATE OF NAME CHANGE:	20061113
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>gofsticker-trusteeandoffic.htm
<DESCRIPTION>497
<TEXT>
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<div><a name="s53F9965B1FCCE8D65ED04414B5FD37B0"></a></div><div><div style="line-height:138%;padding-bottom:13px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">GUGGENHEIM STRATEGIC OPPORTUNITIES FUND</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Supplement dated March 20, 2018 </font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">to the Statement of Additional Information (&#8220;SAI&#8221;),</font></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">dated January 16, 2018, as supplemented from time to time.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Effective immediately, Amy J. Lee serves as a Trustee of the Guggenheim Strategic Opportunities Fund (the &#8220;Fund&#8221;) and the Fund&#8217;s Chief Legal Officer and Brian E. Binder serves as the Fund&#8217;s President and Chief Executive Officer. </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">Accordingly, effective immediately, the following information is hereby added to the table in the &#8220;Management of the Funds&#8212;Board of Trustees&#8221; section of the SAI:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:5%;"></td><td style="width:5%;"></td><td style="width:11%;"></td><td style="width:12%;"></td><td style="width:42%;"></td><td style="width:12%;"></td><td style="width:13%;"></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Name, Address</font><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(1)</sup></font><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">&#160;and</font></div><div style="padding-bottom:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Year of Birth of Trustees</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Position(s) Held</font></div><div style="padding-bottom:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">with Trust</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Term of Office</font><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(2)</sup></font><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">&#160;and</font></div><div style="padding-bottom:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Length of Time Served</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Principal Occupation(s)</font></div><div style="padding-bottom:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">During Past Five Years</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Number of Portfolios</font></div><div style="padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">in Fund Complex</font></div><div style="padding-bottom:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Overseen by Trustee</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Other Directorships</font></div><div style="padding-bottom:2px;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Held by Trustees During Past </font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Five Years</font></div></td></tr><tr><td colspan="7" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Interested Trustee</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Amy J. Lee</font></div><div style="padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;"><br></font></div><div style="padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Year of Birth: 1961</font></div><div style="padding-bottom:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;"><br></font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Trustee, Vice President and Chief Legal Officer</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Trustee since February 2018 </font></div><div style="padding-bottom:2px;padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;"><br></font></div><div style="padding-bottom:2px;padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Vice President since 2015</font></div><div style="padding-bottom:2px;padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;"><br></font></div><div style="padding-bottom:2px;padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Chief Legal Officer since 2012</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Current: Chief Legal Officer, certain other funds in the Fund Complex (2012-present); Vice President, certain other funds in the Fund Complex (2015-present); Senior Managing Director, Guggenheim Investments (2012-present).</font></div><div style="padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;"><br></font></div><div style="padding-bottom:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Former: Vice President, Associate General Counsel and Assistant Secretary, Security Benefit Life Insurance Company and Security Benefit Corporation (2004-2012).</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:center;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">225</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">None.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup>&#160;</font></div></td><td colspan="6" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The business address of each Trustee is c/o Guggenheim Investments, 227 West Monroe Street, Chicago, IL 60606.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup>&#160;</font></div></td><td colspan="6" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Each Trustee serves an indefinite term, until his or her successor is duly elected and qualified.</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:13px;padding-top:13px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">In addition, effective immediately, the information regarding Ms. Lee is removed from and the following information regarding Mr. Binder is hereby added to the table in the &#8220;Management of the Funds&#8212;Executive Officers&#8221; section of the SAI:</font></div><div><br></div><div><div style="line-height:138%;padding-bottom:13px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:138%;padding-bottom:13px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:5%;"></td><td style="width:11%;"></td><td style="width:15%;"></td><td style="width:15%;"></td><td style="width:54%;"></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Name, Address</font><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(1)</sup></font><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">&#160;</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">and Year of Birth </font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">of Trustees</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Position (s) Held</font></div><div style="padding-bottom:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">with Trust</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Term of Office</font><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(2)</sup></font><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">&#160;and Length of Time Served</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Principal Occupation(s) During Past Five Years</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Brian E. Binder</font></div><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;"><br></font></div><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Year of Birth: 1972</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">President and Chief Executive Officer</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Since February 2018</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-top:2px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Current: President and Chief Executive Officer, certain other funds in the Fund Complex (February 2018-present); President and Chief Executive Officer, Guggenheim Funds Investment Advisors, LLC and Security Investors, LLC (January 2018-present); Senior Managing Director and Chief Administrative Officer, Guggenheim Investments (January 2018-present).</font></div><div style="padding-top:8px;padding-left:4px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Former: Managing Director and President, Deutsche Funds, and Head of US Product, Trading and Fund Administration, Deutsche Asset Management (2013-January 2018); Managing Director, Head of Business Management and Consulting, Invesco Ltd. (2010-2012).</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup>&#160;</font></div></td><td colspan="4" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The business address of each officer is c/o Guggenheim Investments, 227 West Monroe Street, Chicago, IL 60606.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup>&#160;</font></div></td><td colspan="4" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Each officer serves an indefinite term, until his or her successor is duly elected and qualified.</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">In addition, effective immediately, the following is added as the eighth paragraph in the &#8220;Trustee Qualifications&#8221; section of the SAI:</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">Amy J. Lee</font><font style="font-family:inherit;font-size:11pt;">. Ms. Lee has served as a Trustee of the Trust and of other funds in the Fund Complex since February 2018. Through her service as Chief Legal Officer of the Trust and certain other funds in the Fund Complex, her service as Senior Managing Director of Guggenheim Investments, as well as her prior experience as Associate General Counsel of Security Benefit Corporation, Ms. Lee is experienced in financial, legal, regulatory and governance matters.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">In addition, effective immediately, the following is added first paragraph in the &#8220;Trustee Compensation&#8221; section of the SAI:</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Investment Adviser compensates its officers and directors who may also serve as officers or Trustees. The Fund does not pay any fees to, or reimburse expenses of, the Interested Trustee.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">In addition, effective immediately, the following information is hereby added to the table in the &#8220;Trustee Share Ownership&#8221; section of the SAI:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:6%;"></td><td style="width:17%;"></td><td style="width:33%;"></td><td style="width:44%;"></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Name</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Dollar Range of  <br>Equity Securities in the Fund</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;padding-top:2px;text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen By Trustee In Fund Complex</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td></tr><tr><td colspan="4" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Interested Trustee:</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amy J. Lee</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;"><div style="padding-bottom:2px;text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$0</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$10,001-$50,000</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup>&#160;</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="padding-bottom:2px;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">As of March 20, 2018, the &#8220;Fund Complex&#8221; consists of 11 closed-end funds, including the Fund, 67 exchange-traded funds and 152 open-end funds. The Fund Complex consists of U.S. registered investment companies advised or serviced by Guggenheim Funds Investment Advisors, LLC or Guggenheim Funds Distributors, LLC and/or affiliates of such entities. The Fund Complex is overseen by multiple boards of trustees.</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Guggenheim Strategic Opportunities Fund</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">227 West Monroe Street</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Chicago, Illinois 60606</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Please Retain This Supplement for Future Reference</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">March 20, 2018&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div><br></div><div><div style="line-height:138%;padding-bottom:13px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div>	</body>
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