Calamos (CHI) 10% Holder MetLife IM Sells & Buys Shares

What Happened MetLife Investment Management, LLC, a 10% institutional holder and investment manager for clients, reported a pair of transactions in Calamos Convertible Opportunities & Income Fund (CHI) preferred shares. On 2026-08-24 the issuer redeemed Series D mandatory redeemable preferred shares totaling 440,000 shares at $25.00 each (proceeds $11,000,000). On 2026-08-26 MetLife IM made open-market/private purchases totaling 345,000 shares at $25.00 each (cost $8,625,000). Overall, the activity represents a net disposition of 95,000 shares (net proceeds $2,375,000).

Key Details

• Transaction types and dates:
  • 2026-08-24: Four dispositions (code J — "other acquisition or disposition"/redemption): 36,000; 124,000; 36,000; and 244,000 shares, each at $25.00 (total 440,000 shares; $11,000,000).
  • 2026-08-26: Five purchases (code P — open market/private): 109,000; 112,000; 60,000; 16,000; and 48,000 shares, each at $25.00 (total 345,000 shares; $8,625,000).
• Shares owned after the transactions: not specified in the filing.
• Footnotes of note:
  • F1: The 8/24 transactions were Series D preferred shares redeemed by the issuer at the $25.00 original purchase price plus accrued dividends; those dividends are exempt from Section 16 under Rule 16a‑9.
  • F2: Securities are held directly for clients for whom MetLife IM serves as investment manager.
  • F3: MetLife IM disclaims beneficial ownership except to the extent of its pecuniary interest.
• Filing: Report filed 2026-08-26 (covering transactions on 8/24 and 8/26); no late filing is indicated in the record.

Context These filings reflect institutional activity by a 10% holder and an investment manager executing client-directed redemptions and subsequent purchases, not an individual executive trade. The 8/24 entries were issuer redemptions (not manager-initiated open-market sales), and the 8/26 activity was accumulation via open-market/private purchases. For retail investors, purchases by an institutional manager can be noteworthy, but the filing’s footnotes show the securities are client-held and MetLife IM disclaims direct beneficial ownership beyond pecuniary interest.