SCHEDULE 13D
DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
6/30/14
1. NAME OF REPORTING PERSON
Bulldog Investors, LLC
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DE
___________________________________________________________
7. SOLE VOTING POWER
489,766
8. SHARED VOTING POWER
430,134
9. SOLE DISPOSITIVE POWER
489,766
_______________________________________________________
10. SHARED DISPOSITIVE POWER
430,134
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
919,900 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
5.65%
14. TYPE OF REPORTING PERSON
IA
___________________________________________________________
1. NAME OF REPORTING PERSON
Phillip Goldstein
2. CHECK THE BOX IF MEMBER OF A GROUP a[x]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
489,766
8. SHARED VOTING POWER
430,134
9. SOLE DISPOSITIVE POWER
489,766
_______________________________________________________
10. SHARED DISPOSITIVE POWER
430,134
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
919,900 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
5.65%
14. TYPE OF REPORTING PERSON
IN
___________________________________________________________
1. NAME OF REPORTING PERSON
Andrew Dakos
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
489,766
8. SHARED VOTING POWER
430,134
9. SOLE DISPOSITIVE POWER
489,766
_______________________________________________________
10. SHARED DISPOSITIVE POWER
430,134
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
919,900 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
5.65%
14. TYPE OF REPORTING PERSON
IN
___________________________________________________________
1. NAME OF REPORTING PERSON
Steven Samuels
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
489,766
8. SHARED VOTING POWER
430,134
9. SOLE DISPOSITIVE POWER
489,766
_______________________________________________________
10. SHARED DISPOSITIVE POWER
430,134
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
919,900 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
5.65%
14. TYPE OF REPORTING PERSON
IN
_______________________________________________________
Item 1. SECURITY AND ISSUER
This Schedule 13D relates to the shares of Common Stock
of DWS High Income Opportunities Fund, Inc. ("DHG" or the "Issuer").
The principal executive offices of DHG are located at
345 PARK AVENUE
NEW YORK, NY 10154-0004
Item 2. IDENTITY AND BACKGROUND
(a) This statement is filed on behalf of Bulldog Investors,LLC, (a Delaware
Limited Liability Company), Phillip Goldstein, Andrew Dakos and Steven Samuels.
(b) The business address of the reporting persons is Park 80 West-Plaza Two,
250 Pehle Ave., Suite 708, Saddle Brook, NJ 07663.
(c) Bulldog Investors,LLC is a registered investment adviser.
Messrs. Goldstein, Dakos and Samuels are control persons of Bulldog
Investors,LLC.
(d) n/a
(e) n/a
(f) Each of Messrs. Goldstein, Dakos and Samuels is a citizen of the United
States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATIONS
Shares of the Issuer have been accumulated on behalf of clients of
Bulldog Investors,LLC.
ITEM 4. PURPOSE OF TRANSACTION
The filing persons believe the shares are undervalued and may communicate
with management about measures to enhance shareholder value.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As per the NCSRS filed on June 3,2014, there were 16,269,962 shares of
common stock outstanding as of March 31, 2014. The percentages set forth
herein were derived using such number. Phillip Goldstein, Andrew Dakos and
Steven Samuels own Bulldog Investors, LLC, a registered investment advisor.
As of July 9, 2014, Bulldog Investors, LLC is deemed to be the beneficial
owner of 919,900 shares of DHG (representing 5.65% of DHG's outstanding
shares) solely by virtue of Bulldog Investors LLC's power to direct the vote
of, and dispose of, these shares. These 919,900 shares of DHG include 489,766
shares (representing 3.00% of DHG's outstanding shares) that are beneficially
owned by Mr. Goldstein and the following entities over which Messrs.Goldstein,
Dakos and Mr. Samuels exercise control: Opportunity Partners LP, Calapasas
West Partners LP, Full Value Special Situations Fund, LP, Full Value Offshore
Fund, Ltd., Full Value Partners, LP, Opportunity Income Plus, LP, and MCM
Opportunity Partners, LP (collectively,"Bulldog Investors Group of Funds").
Bulldog Investors Group of Funds and Mr. Goldstein may be deemed to constitute
a group. All other shares included in the aforementioned 919,900 shares of DHG
beneficially owned by Bulldog Investors, LLC (solely by virtue of its power to
sell or direct the vote of these shares) are also beneficially owned by clients
of Bulldog Investors, LLC who are not members of any group. The total number of
these "non-group" shares is 430,134 shares (representing 2.65% of DHG's
outstanding shares).
(b) Bulldog Investors, LLC has sole power to dispose of and vote 489,766 shares.
Bulldog Investors, LLC has shared power to dispose of and vote 430,134 shares.
Certain of Bulldog Investors, LLC's clients (none of whom beneficially own more
than 5% of DHG's shares) share this power with Bulldog Investors, LLC. Messrs.
Goldstein, Dakos and Samuels are control persons of Bulldog Investors, LLC.
c) During the past 60 days the following shares of DHG were purchased:
Date: Shares: Price:
05/13/14 491 14.7700
05/28/14 10,800 14.6500
05/29/14 200 14.6500
06/30/14 700 14.6700
06/02/14 12,375 14.6800
06/03/14 17,592 14.6393
06/04/14 12,402 14.6377
06/05/14 10,936 14.6482
06/06/14 300 14.6500
06/09/14 5,669 14.6700
06/10/14 4,388 14.6700
06/12/14 3,002 14.7458
06/13/14 4,453 14.7500
06/16/14 7,367 14.7495
06/17/14 17,400 14.7196
06/18/14 3,866 14.6500
06/19/14 18,402 14.7153
06/20/14 6,100 14.7177
06/23/14 5,718 14.7200
06/25/14 10,800 14.7897
06/30/14 38,621 14.7786
07/01/14 25,000 14.7224
07/02/14 1,442 14.6600
07/03/14 14,064 14.6419
07/07/14 8,478 14.6800
07/08/14 19,410 14.6775
07/09/14 7,726 14.7099
d) Clients of Bulldog Investors, LLC are entitled to receive any dividends or
sales proceeds.
e) N/A
ITEM 6. CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
N/A
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
See exhibit 1
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: 7/10/2014
By: /S/ Phillip Goldstein
Name: Phillip Goldstein
By: /S/ Andrew Dakos
Name: Andrew Dakos
By: /S/ Steven Samuels
Name: Steven Samuels
Bulldog Investors, LLC
By: /s/ Andrew Dakos
Andrew Dakos, Member
Footnote 1: The reporting persons disclaim beneficial ownership except
to the extent of any pecuniary interest therein.
Exhibit 1:
Agreement to Make Joint Filing
Agreement made as of the 10 day of July, 2014, by and among
Bulldog Investors, LLC, Phillip Goldstein, Andrew Dakos, and Steven Samuels.
WHEREAS, Rule 13d-1(k)(1) under the Securities Exchange Act of 1934 provides
that whenever two or more persons are required to file a statement containing
the information required by Schedule 13D with respect to the same securities,
only one such statement need be filed, so long as, among other things, such
filing includes as an exhibit an agreement among such persons that such a
statement is filed on behalf of each of them;
WHEREAS, in connection with certain holdings of DWS High Income Opportunities
Fund (DHG), each of the parties to this Agreement is required to file a
statement containing the information required by Schedule 13D with respect to
the same holdings of DHG;
NOW THEREFORE, the parties hereby agree that one statement containing the
information required by Schedule 13D shall be filed on behalf of each party
hereto.
IN WITNESS WHEREOF, this Agreement has been duly executed by the parties
hereto as of the day and year first written above.
By:/s/ Phillip Goldstein By:/s/ Andrew Dakos
Phillip Goldstein Andrew Dakos
BULLDOG INVESTORS, LLC
By: /s/ Steven Samuels By: /s/ Andrew Dakos
Steven Samuels Andrew Dakos, Member