<SEC-DOCUMENT>0001193125-21-126776.txt : 20210422
<SEC-HEADER>0001193125-21-126776.hdr.sgml : 20210422
<ACCEPTANCE-DATETIME>20210422162615
ACCESSION NUMBER:		0001193125-21-126776
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210422
DATE AS OF CHANGE:		20210422
EFFECTIVENESS DATE:		20210422

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:	333-230474
		FILM NUMBER:		21845129

	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>d168370d497.htm
<DESCRIPTION>GUGGENHEIM STRATEGIC OPPORTUNITIES FUND
<TEXT>
<HTML><HEAD>
<TITLE>Guggenheim Strategic Opportunities Fund</TITLE>
</HEAD>


 <body style="width:595pt;" bgcolor="white"> <div> <div> <a name="xx_c8f4a7aa-e1d9-4717-91c6-96fdd57c8fd7_1"></A> <div style="page-break-after:always;">
<div style="float:left;margin-left:6.55%;margin-top:4.64%;width:516pt;"> <div style="line-height:14.02pt;text-align:center;"><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;font-weight:bold;">GUGGENHEIM STRATEGIC
OPPORTUNITIES FUND</font></div> <div style="line-height:14.02pt;margin-top:10.00pt;text-align:center;"><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;font-weight:bold;">Supplement dated April 22, 2021 to the currently
effective Prospectus and Statement of Additional </font><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;font-weight:bold;">Information dated October 2, 2020, as may be supplemented from time to time</font><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;"> </font></div> <div style="line-height:14.02pt;margin-left:0%;margin-top:10.00pt;text-align:justify;"><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;font-weight:bold;margin-left:0%;">This supplement updates information in the Prospectus and Statement of Additional Information for </font><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;font-weight:bold;">Guggenheim Strategic Opportunities Fund (&#8220;GOF&#8221;) and should be read in conjunction with those </font><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;font-weight:bold;">documents.</font><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;"> </font></div>
<div style="line-height:14.02pt;margin-left:0%;margin-top:10.00pt;text-align:justify;"><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;margin-left:0%;">The Board of Trustees of GOF has approved the proposed mergers of
Guggenheim Credit Allocation Fund </font><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;">(&#8220;GGM&#8221;) and Guggenheim Enhanced Equity Income Fund (&#8220;GPM&#8221;) with and into GOF (each a &#8220;Merger&#8221;
</font><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;">and, together, the &#8220;Mergers&#8221;) and the related Agreement and Plan of Merger between GGM and GOF and </font><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;">GPM and GOF, subject to certain conditions, including approval of the shareholders of GOF.</font><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;">
</font></div> <div style="line-height:14.02pt;margin-left:0%;margin-top:10.00pt;text-align:justify;"><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;margin-left:0%;">Shareholders of GGM and GPM would receive newly issued
common shares of GOF, the aggregate net </font><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;">asset value (not the market value) of which will equal the aggregate net asset value (not the market value) of </font><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;">their common shares held immediately prior to the Mergers.</font><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;"> </font></div>
<div style="line-height:14.02pt;margin-left:0%;margin-top:10.00pt;text-align:justify;"><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;margin-left:0%;">Approval of the Merger of GPM with and into GOF is not contingent upon
approval of GGM into GOF, and </font><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;">approval of the Merger of GGM with and into GOF is not contingent upon approval of GPM into GOF.</font><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;"> </font></div> <div style="line-height:14.02pt;margin-left:0%;margin-top:10.00pt;text-align:justify;"><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;margin-left:0%;">It is currently expected that the Mergers will be completed around the third quarter of 2021, subject to the </font><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;">receipt of required shareholder approvals and the satisfaction of applicable regulatory requirements and </font><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;">other customary closing conditions. Additional information will be included in the proxy materials that are </font><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;">anticipated to be mailed to shareholders around the third quarter of 2021. This supplement is not a
</font><font style="color:#000000;font-family:Times New Roman;font-size:12.02pt;">solicitation of a proxy.</font></div> <div style="line-height:14.02pt;margin-top:12.00pt;text-align:center;"><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;font-weight:bold;">Please Retain This Supplement for Future Reference</font></div> <div style="line-height:14.02pt;margin-top:12.00pt;text-align:right;"><font
style="color:#000000;font-family:Times New Roman;font-size:12.02pt;">GOF-SUP</font></div> </div> </div> </div> <div style="float:left;margin-bottom:5.0pt;width:100%;"> </div> <hr style="clear:both;margin:0.25pt;"> </div> </BODY></HTML>
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</DOCUMENT>
</SEC-DOCUMENT>
