SELL MORITZ A 4
4 · Total Return Securities Fund · Filed Jan 27, 2026
Research Summary
AI-generated summary of this filing
Total Return Securities Fund (SWZ) Director Moritz A Sells 3,922 Shares
What Happened
Moritz A, a director of Total Return Securities Fund (SWZ), sold 3,922 shares on 2026-01-23 at $6.81 per share, for total proceeds of $26,709. The filing lists the transaction as a disposition to the issuer (code D) and notes the sale was made pursuant to a tender offer exempt under Rule 16b-3, so this is a sale rather than a purchase.
Key Details
- Transaction date and price: 2026-01-23 — 3,922 shares at $6.81 each ($26,709 total).
- Transaction code: D (Disposition to issuer).
- Footnote F1: Sale made pursuant to a tender offer exempt under Rule 16b-3.
- Footnote F2: Reported amount includes shares acquired through the issuer's dividend reinvestment plan.
- Shares owned after transaction: Not specified in the provided filing details.
- Filing timeliness: Report filed 2026-01-27 (within required two business days of the 2026-01-23 transaction).
Context
This was a direct sale back to the issuer under a specific tender arrangement; such transactions are typically procedural (e.g., buyback, redemption or tender) rather than open-market trades. The filing is factual and does not indicate insider motivation.
Insider Transaction Report
Form 4
SELL MORITZ A
Director
Transactions
- Disposition to Issuer
Common Stock
[F1][F2]2026-01-23$6.81/sh−3,922$26,709→ 7,878 total
Footnotes (2)
- [F1]Represents sale of shares to the issuer pursuant to tender offer exempt under Rule 16b-3.
- [F2]Amount includes shares acquired through the Issuer's dividend reinvestment plan.
Signature
/s/ Stephanie Darling, as Power of Attorney|2026-01-27