Calamos fund (CHI) logs preferred stake buy and redemption
Rhea-AI Filing Summary
CALAMOS CONVERTIBLE OPPORTUNITIES & INCOME FUND (CHI) had a Form 4 filed by MetLife Investment Management, LLC, a ten-percent owner. On 2026-08-26, entities managed by MetLife purchased 345,000 Series H Mandatory Redeemable Preferred Shares at $25.00 per share in indirect transactions for clients. On 2026-08-24, 440,000 Series D Mandatory Redeemable Preferred Shares were disposed of when the issuer redeemed them in full at $25.00 per share plus accrued and unpaid dividends. The securities are held for advisory clients, and MetLife Investment Management, LLC disclaims beneficial ownership except to the extent of its pecuniary interest.
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Insights
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Insider Trade Summary
Net Seller: 95,000 shares
Net Sell
9 txns
Insider
MetLife Investment Management, LLC
Role
10% Owner
Bought
345,000 shs ($8.63M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Series H Mandatory Redeemable Preferred Shares F2, F3 | 109,000 | $25.00 | $2.73M |
| Purchase | Series H Mandatory Redeemable Preferred Shares F2, F3 | 112,000 | $25.00 | $2.80M |
| Purchase | Series H Mandatory Redeemable Preferred Shares F2, F3 | 60,000 | $25.00 | $1.50M |
| Purchase | Series H Mandatory Redeemable Preferred Shares F2, F3 | 16,000 | $25.00 | $400K |
| Purchase | Series H Mandatory Redeemable Preferred Shares F2, F3 | 48,000 | $25.00 | $1.20M |
| Other | Series D Mandatory Redeemable Preferred Shares F1, F2, F3 | 36,000 | $25.00 | $900K |
| Other | Series D Mandatory Redeemable Preferred Shares F1, F2, F3 | 124,000 | $25.00 | $3.10M |
| Other | Series D Mandatory Redeemable Preferred Shares F1, F2, F3 | 36,000 | $25.00 | $900K |
| Other | Series D Mandatory Redeemable Preferred Shares F1, F2, F3 | 244,000 | $25.00 | $6.10M |
Holdings After Transaction:
Series D Mandatory Redeemable Preferred Shares — 0 shares (Indirect, See Footnotes);
Series H Mandatory Redeemable Preferred Shares — 48,000 shares (Indirect, See Footnotes)
Footnotes (3)
- F1. These Series D Mandatory Redeemable Preferred Shares were redeemed in full by the Issuer at their original purchase price of $25.00 per share, plus accrued and unpaid dividends, which dividends are exempt from Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), pursuant to Rule 16a-9 thereunder.
- F2. These securities are held directly by clients for whom the Reporting Person serves as investment manager.
- F3. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
Key Figures
Series H shares purchased: 345,000 shares
Series H purchase price: $25.00 per share
Series D shares redeemed: 440,000 shares
+3 more
6 metrics
Series H shares purchased
345,000 shares
Total Series H Mandatory Redeemable Preferred Shares purchased on 2026-08-26
Series H purchase price
$25.00 per share
Price for Series H Mandatory Redeemable Preferred Shares purchases
Series D shares redeemed
440,000 shares
Total Series D Mandatory Redeemable Preferred Shares redeemed on 2026-08-24
Series D redemption price
$25.00 per share
Original purchase price at which Series D shares were redeemed, plus accrued and unpaid dividends
Net buy/sell shares
345,000 shares
Net buy direction across all reported transactions
Restructuring shares
440,000 shares
Shares involved in restructuring-type transactions (code J) related to Series D redemption
Key Terms
Mandatory Redeemable Preferred Shares, Section 16, Rule 16a-9, pecuniary interest
4 terms
Section 16 regulatory
"dividends are exempt from Section 16 of the Securities Exchange Act"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
Rule 16a-9 regulatory
"pursuant to Rule 16a-9 thereunder"
pecuniary interest financial
"except to the extent of its pecuniary interest therein"
FAQ
What insider transactions did MetLife Investment Management report for CHI?
MetLife Investment Management, LLC reported purchases of 345,000 Series H Mandatory Redeemable Preferred Shares at $25.00 per share on 2026-08-26 and dispositions of 440,000 Series D shares on 2026-08-24 due to issuer redemption at $25.00 per share plus accrued and unpaid dividends.
What securities did the Form 4 involve for CHI?
The Form 4 for CHI involved Series H Mandatory Redeemable Preferred Shares, which were purchased, and Series D Mandatory Redeemable Preferred Shares, which were redeemed by the issuer, both at an original purchase price of $25.00 per share.
Does MetLife Investment Management have direct ownership of these CHI securities?
The filing states that the securities are held directly by clients for whom MetLife Investment Management, LLC serves as investment manager, and that it disclaims beneficial ownership except to the extent of its pecuniary interest.
AI-generated analysis. How Rhea-AI works. Not financial advice.
