GOLDSTEIN PHILLIP 4

What Happened

• Phillip Goldstein, a director of Total Return Securities Fund (ticker: SWZ), purchased 10,000 shares on January 30, 2026. The open-market transaction price was $5.92 per share, for a total cost of $59,200. This was a purchase (insider buying can be interpreted as a positive signal, though it is not proof of future performance).

Key Details

• Transaction date and price: 2026-01-30 — 10,000 shares at $5.92 each.
• Total value: $59,200.
• Transaction type/code: P — Purchase (open-market/private purchase reported).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes/plan flags: No 10b5-1 plan, tax withholding, or other special footnotes indicated in the summary provided.
• Filing date vs. transaction date: Form filed 2026-02-03 reporting the Jan 30 transaction. (Form 4s are normally due within two business days of the transaction; check the full filing for any timeliness footnote if timing is a concern.)

Context

• This was a straightforward purchase by a company director, not an option exercise, gift, or tax withholding event. Purchases by insiders can be more informative than sales, but they are one data point and do not guarantee future performance. Investors should combine this with other research (fundamentals, fund strategy, and market conditions) before drawing conclusions.