SELL MORITZ A 4

What Happened
Director Moritz A acquired 1,000 shares of Total Return Securities Fund (SWZ) on 2026-05-29 at $6.01 per share, for a total reported cost of $6,010. The transaction is reported as a purchase (code P), which investors often view as a more informative signal than routine sales, though this acquisition includes shares from the fund's dividend reinvestment plan.

Key Details

• Transaction date: 2026-05-29; Price: $6.01 per share; Shares: 1,000; Total value: $6,010.
• Transaction code: P (Purchase — open market or private purchase).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote: F1 — Amount includes shares acquired through the issuer's dividend reinvestment plan.
• Filing date: 2026-06-01 (filed within the Form 4 two-business-day reporting window; not late).

Context
The purchase appears to be a small, routine acquisition (including dividend reinvestment) rather than a large directional bet. For closed-end funds and similar issuers, dividend reinvestment plan purchases are common and may reflect reinvested distributions rather than a deliberate market-timing purchase.