Dakos Andrew 4

What Happened

• Andrew Dakos, President & CEO and a director of Total Return Securities Fund (ticker: SWZ), reported purchases totaling 6,000 shares on 2026-03-24. He bought 5,000 shares at $5.96 ($29,800) and 1,000 shares at $5.95 ($5,950), for a combined cost of $35,750. These transactions are reported as purchases (transaction code P), which investors often view as a positive signal since an insider added shares.

Key Details

• Transaction dates and prices: 2026-03-24 — 5,000 shares @ $5.96; 1,000 shares @ $5.95.
• Total acquired: 6,000 shares for $35,750.
• Filing: Form 4 filed with the SEC on 2026-03-26 (appears timely for a Form 4 covering 2026-03-24 trades).
• Shares owned after transaction: Not specified in the filing.
• Footnote: The 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 (per footnote F1).

Context

• The filing reports straightforward purchases (no option exercises, gifts, or awards). The shares are reported as held via a limited partnership vehicle, which means the economic interest may be indirect. Purchases by executives can be informative to investors, but they do not by themselves explain the insider’s motives or guarantee future stock performance.