MetLife clients buy 290K CHY Series H preferred
CALAMOS CONVERTIBLE & HIGH INCOME FUND (CHY) reported that MetLife Investment Management, LLC, a ten percent owner, indirectly reallocated preferred holdings.
Rhea-AI Filing Summary
CALAMOS CONVERTIBLE & HIGH INCOME FUND (CHY) reported that MetLife Investment Management, LLC, a ten percent owner, indirectly reallocated preferred holdings. On 2026-08-26, entities managed by MetLife purchased a total of 290,000 Series H Mandatory Redeemable Preferred Shares at $25.00 per share. On 2026-08-24, 520,000 Series D Mandatory Redeemable Preferred Shares were disposed of in transactions coded as “other,” with footnotes clarifying the Series D shares were redeemed in full by the fund at $25.00 per share plus accrued and unpaid dividends. The securities are held directly by MetLife’s investment-management clients, and MetLife disclaims beneficial ownership except to the extent of its pecuniary interest.
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Insights
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Insider Trade Summary
Net Buyer: 290,000 shares
Net Buy
8 txns
Insider
MetLife Investment Management, LLC
Role
10% Owner
Bought
290,000 shs ($7.25M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Series H Mandatory Redeemable Preferred Shares F2, F3 | 96,000 | $25.00 | $2.40M |
| Purchase | Series H Mandatory Redeemable Preferred Shares F2, F3 | 134,400 | $25.00 | $3.36M |
| Purchase | Series H Mandatory Redeemable Preferred Shares F2, F3 | 16,000 | $25.00 | $400K |
| Purchase | Series H Mandatory Redeemable Preferred Shares F2, F3 | 43,600 | $25.00 | $1.09M |
| Other | Series D Mandatory Redeemable Preferred Shares F1, F2, F3 | 288,000 | $25.00 | $7.20M |
| Other | Series D Mandatory Redeemable Preferred Shares F1, F2, F3 | 144,000 | $25.00 | $3.60M |
| Other | Series D Mandatory Redeemable Preferred Shares F1, F2, F3 | 44,000 | $25.00 | $1.10M |
| Other | Series D Mandatory Redeemable Preferred Shares F1, F2, F3 | 44,000 | $25.00 | $1.10M |
Holdings After Transaction:
Series D Mandatory Redeemable Preferred Shares — 0 shares (Indirect, See Footnotes);
Series H Mandatory Redeemable Preferred Shares — 43,600 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: 290,000 shares
Purchase price per Series H share: $25.00 per share
Series D shares redeemed: 520,000 shares
+3 more
6 metrics
Series H shares purchased
290,000 shares
Indirect purchases on 2026-08-26 by accounts managed by MetLife Investment Management
Purchase price per Series H share
$25.00 per share
Price for Series H Mandatory Redeemable Preferred Shares bought on 2026-08-26
Series D shares redeemed
520,000 shares
Series D Mandatory Redeemable Preferred Shares redeemed on 2026-08-24
Redemption price per Series D share
$25.00 per share
Original purchase price used for full redemption of Series D shares, plus accrued and unpaid dividends
Net buy/sell shares
290,000 shares
Net of reported buy and dispose transactions across all preferred series
Restructuring shares
520,000 shares
Shares involved in transactions coded as other acquisition or disposition (Code J)
Key Terms
Mandatory Redeemable Preferred Shares, pecuniary interest, Rule 16a-9, Section 16 of the Exchange Act, +1 more
5 terms
pecuniary interest financial
"disclaims beneficial ownership ... except to the extent of its pecuniary interest"
Rule 16a-9 regulatory
"dividends are exempt from Section 16 ... pursuant to Rule 16a-9 thereunder"
Section 16 of the Exchange Act regulatory
"dividends are exempt from Section 16 of the Securities Exchange Act of 1934"
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of the securities reported herein"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
What type of CHY securities were involved in MetLife Investment Management’s Form 4?
The transactions involved Series H Mandatory Redeemable Preferred Shares and Series D Mandatory Redeemable Preferred Shares of CALAMOS CONVERTIBLE & HIGH INCOME FUND, with Series H purchased and Series D redeemed by the fund.
Does MetLife Investment Management claim full beneficial ownership of the CHY preferred shares?
No. The filing explains the securities are held directly by clients for whom MetLife Investment Management serves as investment manager, and MetLife disclaims beneficial ownership except to the extent of its pecuniary interest in those securities.
Were the CHY insider transactions under a Rule 10b5-1 trading plan?
The document-level Rule 10b5-1 checkbox is not checked (aff_10b5_one is false), and the footnotes do not state that the transactions were executed pursuant to a Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
