<SEC-DOCUMENT>0000891804-19-000216.txt : 20190926
<SEC-HEADER>0000891804-19-000216.hdr.sgml : 20190926
<ACCEPTANCE-DATETIME>20190627173000
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000891804-19-000216
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190627

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:		CORRESP

	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>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">[Letterhead of Skadden, Arps, Slate, Meagher &amp; Flom LLP]</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Sonny Oh</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Christina Fettig</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Securities and Exchange Commission</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Division of Investment Management</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">100 F Street, N.E.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Washington, DC 20549</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 49px; align: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">RE:</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; DISPLAY: inline-block; WIDTH: 36pt; TEXT-INDENT: 0px">&#160;</font></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">Guggenheim Strategic Opportunities Fund<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><br>
<u>(File Nos. 333-230474 and 811-21982)</u></font></td>
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<div style="MARGIN-BOTTOM: 11pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-TOP: 11pt; LINE-HEIGHT: 1.25">Dear Mr. Oh and Ms. Fettig:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-TOP: 12pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">Thank you for your telephonic comments regarding Pre-Effective Amendment No. 1 to the Registration Statement on Form N-2 (the &#8220;Registration Statement&#8221;) filed by Guggenheim Strategic Opportunities Fund (the &#8220;Fund&#8221;) on June 7, 2019. We have considered your comments to the Registration Statement and, on behalf of the Fund, responses to those comments are set forth below. Changes will be reflected in Pre-Effective Amendment No. 2 to the Registration Statement, which the Fund intends to file on or about the date hereof and will be marked to show all changes made since the filing of the Registration Statement. Capitalized terms not defined herein have the definitions provided to them in the Registration Statement.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Comment 1:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">At the first instance that the disclosure refers to the lender under the Fund&#8217;s credit facility, please use the full name of the bank and define if you prefer to use an abbreviated name thereafter.</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; VERTICAL-ALIGN: top; WIDTH: 90pt; align: right">Response:</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">The Fund has revised the disclosure as requested.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Comment 2:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Revise footnote 2 to the Fee Table to state that the expense limitation will be in effect for at least one year and can be terminated only by the Board.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">The Fund has revised footnote 2 as requested.</div>
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<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: center; MARGIN-TOP: 12pt; LINE-HEIGHT: 1.25">1</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Footnote 7 to the Fee Table states that other expenses are estimated based upon those incurred during the fiscal year ended November 30, 2018. Revise to clarify if this reference should be to the period ended November 30, 2018 or the fiscal year ended May 31, 2018.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">The Fund has revised footnote 7 to clarify that other expenses are estimated based upon those incurred during the period ended November 30, 2018.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Confirm that the presentation of the table contained in footnote 8 is not as prominent or more prominent than fee table itself.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">The Fund confirms that the <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">&#160;</font>presentation of the table in footnote 8 is not as prominent or more prominent than fee table itself. The footnotes are presented in a smaller font and indented from the fee table, and the table contained in footnote 8 is set forth in the same smaller font and indentation style as the rest of the footnotes.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">* * * * * *</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-TOP: 12pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">Should you have any questions concerning our responses to your comments, please direct them to the undersigned at (312) 407-0641.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 252pt; MARGIN-TOP: 24pt; LINE-HEIGHT: 1.25">Sincerely,</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 252pt; MARGIN-TOP: 24pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>/s/ Kevin T. Hardy</u></font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; DISPLAY: inline-block; WIDTH: 153pt; TEXT-INDENT: 0px">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><br>
</font> Kevin T. Hardy</font></div>
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