SELL MORITZ A 4

What Happened Moritz A, a director of Total Return Securities Fund (ticker: SWZ), made purchases of the fund’s shares: 1,120 shares at $5.98 on 2026-02-02 ($6,698) and 1,000 shares at $5.96 on 2026-02-03 ($5,960), totaling 2,120 shares for ~$12,658. These were recorded as purchases (transaction code P), which are generally considered a more informative/“bullish” signal than routine sales.

Key Details

• Transaction dates & prices: 2026-02-02 — 1,120 sh @ $5.98; 2026-02-03 — 1,000 sh @ $5.96.
• Total value: approximately $12,658.
• Filing date: Form 4 filed 2026-02-04 (appears timely).
• Shares owned after transaction: not specified in the filing.
• Footnote: Amount includes shares acquired through the issuer’s dividend reinvestment plan (DRIP).
• Transaction type: P = Purchase (open market or private purchase as reported).

Context These purchases were direct share acquisitions (no option exercises, gifts, or awards). Purchases by directors can indicate personal capital allocation into the company, but filings do not explain motive; interpret as factual trade data rather than a recommendation.