Dakos Andrew 4

What Happened Andrew Dakos, President, CEO and director of Total Return Securities Fund (SWZ), made open-market purchases totaling 7,000 shares. He bought 5,000 shares on 2026-02-26 at $6.17 each ($30,850) and 2,000 shares on 2026-02-27 at $6.20 each ($12,400), for a combined cost of $43,250. These transactions are coded P (purchase) and represent insider buys, which investors often view as a potentially positive signal.

Key Details

• Transaction dates and prices:
  • 2026-02-26: 5,000 shares @ $6.17 ($30,850)
  • 2026-02-27: 2,000 shares @ $6.20 ($12,400)
• Total purchased: 7,000 shares for $43,250.
• Shares owned after transaction: Not specified in the Form 4 filing.
• Footnote: Shares are held by a limited partnership in which Mr. Dakos has a beneficial interest; he disclaims beneficial ownership except to the extent of any pecuniary interest (Footnote F1).
• Filing: Form 4 filed 2026-03-02. (Form 4s are generally due within two business days of the transaction; this filing appears to have been submitted promptly.)

Context These were straightforward open-market purchases (no option exercises, gifts, or awards). The holdings are reported as held by a limited partnership, so the filing notes a limited beneficial interest rather than direct personal ownership. Purchases by insiders can be informative, but they don’t prove future performance and can reflect various personal or portfolio reasons.