SWZ CEO Dakos reports insider share purchases
Total Return Securities Fund director and CEO Andrew Dakos reported a series of open‑market purchases of the fund’s common stock.
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Form Type
4
Rhea-AI Filing Summary
Total Return Securities Fund director and CEO Andrew Dakos reported a series of open‑market purchases of the fund’s common stock. A limited partnership associated with him bought 3,000 shares at $6.09, 3,000 shares at $6.05, and 4,718 shares at $6.06. Separately, he directly bought 547 shares at $6.04. Following these trades, indirect holdings reported for the limited partnership were 106,000 shares and his direct holdings were 40,000 shares. Dakos disclaims beneficial ownership of the partnership’s shares except to the extent of any pecuniary interest.
Insider Trade Summary
Net Buyer: 11,265 shares
Net Buy
4 txns
Insider
Dakos Andrew
Role
President and CEO
Bought
11,265 shs ($68K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 3,000 | $6.09 | $18K |
| Purchase | Common Stock | 4,718 | $6.06 | $29K |
| Purchase | Common Stock | 3,000 | $6.05 | $18K |
| Purchase | Common Stock | 547 | $6.04 | $3K |
Holdings After Transaction:
Common Stock — 40,000 shares (Direct);
Common Stock — 106,000 shares (Indirect, Limited Partnership)
Footnotes (2)
- 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.
- F2. The Form 4 filed on behalf of Mr. Dakos on March 31, 2026 contained an error in the amount of shares held Indirectly following the reported transactions. The amounts shown herein reflect the correct amount.
Key Figures
Total shares bought: 11,265 shares
Direct purchase: 547 shares at $6.04
Indirect purchases: 3,000 @ $6.09; 3,000 @ $6.05; 4,718 @ $6.06
+2 more
5 metrics
Total shares bought
11,265 shares
Net open-market purchases reported in this Form 4
Direct purchase
547 shares at $6.04
Common stock bought directly by Andrew Dakos
Indirect purchases
3,000 @ $6.09; 3,000 @ $6.05; 4,718 @ $6.06
Common stock bought by limited partnership
Indirect holdings after
106,000 shares
Common stock held by limited partnership after trades
Direct holdings after
40,000 shares
Common stock held directly by Andrew Dakos after trades
Key Terms
open-market purchase, limited partnership, beneficial interest, disclaims beneficial interest, +1 more
5 terms
open-market purchase financial
"transaction_action: open-market purchase"
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.
limited partnership financial
"Shares are held by a limited partnership in which Mr. Dakos has a beneficial interest"
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
"Mr. Dakos has a beneficial interest. Mr. Dakos disclaims beneficial interest in such shares"
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.
disclaims beneficial interest financial
"Mr. Dakos disclaims beneficial interest in such shares except to the extent of any pecuniary interest"
indirectly financial
"error in the amount of shares held Indirectly following the reported transactions"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did SWZ’s Andrew Dakos report on this Form 4?
Andrew Dakos reported four open‑market purchases of Total Return Securities Fund common stock, totaling 11,265 shares. Three trades were through a limited partnership and one was a direct purchase in his own name, all executed between $6.04 and $6.09 per share.
Did this Form 4 correct any prior SWZ insider ownership information?
Yes. The Form 4 explains that a prior filing dated March 31, 2026 contained an error in the number of shares held indirectly. The amounts reported here for indirect holdings are stated to reflect the correct share count after the reported transactions.
What is the overall direction of insider activity for SWZ in this Form 4?
All reported transactions are open‑market purchases, totaling 11,265 shares, with no sales disclosed. The transaction summary characterizes this as a net‑buy pattern, reflecting additional common‑stock accumulation by the limited partnership and by Andrew Dakos directly.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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