Total Return Securities Fund (SWZ) Secretary Das Rajeev P Sells 166 Shares

What Happened Das Rajeev P, Secretary of Total Return Securities Fund (SWZ), reported a disposition of 166 shares on January 23, 2026. The shares were sold back to the issuer at $6.81 per share, for a total value of $1,130. The transaction is coded as a disposition to the issuer (D).

Key Details

• Transaction date: 2026-01-23; Price: $6.81 per share; Shares disposed: 166; Total value: $1,130.
• Footnote: Sale was to the issuer pursuant to a tender offer exempt under Rule 16b-3 (per filing).
• Form 4 filed on 2026-01-27 (filed within the standard two-business-day window following the transaction).
• Shares owned after the transaction: not specified in the disclosure.

Context Dispositions to the issuer under a tender offer (Rule 16b-3) are commonly routine transactions for fund shares (e.g., redemptions or repurchases) and do not necessarily indicate insider sentiment about the fund’s future performance. This report documents a small, routine sale rather than an exercise, gift, or acquisition.