Total Return Securities Fund director buys 7,000 shares
Total Return Securities Fund director and President & CEO Andrew Dakos reported indirect open-market purchases of the fund’s Common Stock through a limited partnership in which he has a beneficial interest.
Rhea-AI Filing Summary
Total Return Securities Fund director and President & CEO Andrew Dakos reported indirect open-market purchases of the fund’s Common Stock through a limited partnership in which he has a beneficial interest. Across three trades on May 18–20, the partnership bought a total of 7,000 shares at prices around $5.95–$5.96 per share.
After these transactions, the limited partnership’s indirect holdings stand at 113,000 shares, while a separate line in the filing shows 40,000 shares held directly. The filing notes that Mr. Dakos disclaims beneficial ownership of the partnership-held shares except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 7,000 shares
Net Buy
4 txns
Insider
Dakos Andrew
Role
President and CEO
Bought
7,000 shs ($42K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 2,987 | $5.96 | $18K |
| Purchase | Common Stock | 13 | $5.95 | $77.35 |
| Purchase | Common Stock | 4,000 | $5.95 | $24K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 113,000 shares (Indirect, Limited Partnership);
Common Stock — 40,000 shares (Direct)
Footnotes (1)
- F1. Shares are held by a limited partnership in which Mr. Dakos has a beneficial interest. Mr. Dakos disclaims beneficial interest in such shares except to the extent of any pecuniary interest therein.
Key Figures
Net shares bought: 7,000 shares
Purchase block 1: 4,000 shares at $5.95
Purchase block 2: 13 shares at $5.95
+3 more
6 metrics
Net shares bought
7,000 shares
Open-market purchases in May 2026
Purchase block 1
4,000 shares at $5.95
Common Stock on May 18, 2026 (indirect)
Purchase block 2
13 shares at $5.95
Common Stock on May 19, 2026 (indirect)
Purchase block 3
2,987 shares at $5.96
Common Stock on May 20, 2026 (indirect)
Indirect holdings after trades
113,000 shares
Common Stock held via limited partnership
Direct holdings snapshot
40,000 shares
Common Stock held directly as of May 18, 2026
Key Terms
open-market purchase, indirect ownership, Limited Partnership, beneficial interest
4 terms
open-market purchase financial
"transaction_action is described as "open-market purchase" for each buy"
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
indirect ownership financial
"ownership_type is listed as "indirect" for the partnership-held shares"
Limited Partnership financial
"nature_of_ownership is shown as "Limited Partnership" for multiple entries"
A limited partnership is a legal business structure with two types of partners: at least one general partner who runs the business and bears full legal responsibility, and one or more limited partners who contribute money, share profits, and have liability capped at their investment. For investors, it matters because it separates control from financial exposure — like putting money into a store without managing it — and affects how returns, risks, taxes and transferability of ownership are handled.
beneficial interest financial
"Footnote states Mr. Dakos has a beneficial interest in the partnership"
Beneficial interest is the right to receive the economic benefits of an asset—such as dividends, interest, or sale proceeds—without necessarily holding legal title to it. For investors this matters because it determines who actually gains from an investment or trust, much like renting an apartment where the tenant enjoys living there and paying bills while the landlord holds the deed; understanding who has the beneficial interest affects income rights, voting influence, and risk exposure.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Andrew Dakos report for SWZ?
Andrew Dakos reported indirect open-market purchases of 7,000 Total Return Securities Fund (SWZ) common shares. The trades occurred over three days in May 2026 and were executed through a limited partnership in which he has a beneficial interest, rather than in his own name.
Are the SWZ purchases by Andrew Dakos direct or indirect holdings?
The 7,000 SWZ shares were acquired as indirect holdings, held by a limited partnership. The Form 4 notes the ownership type as indirect and describes it as a limited partnership interest, distinguishing these positions from the 40,000 SWZ shares reported as held directly.
Are there any derivative positions reported for Andrew Dakos in SWZ?
The Form 4 derivative section shows no derivative transactions or remaining derivative positions for Andrew Dakos. All reported activity involves non-derivative SWZ common stock, simplifying the ownership picture to direct and indirect share holdings without options or other equity-linked securities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
