SELL MORITZ A 4

What Happened

• Moritz A, a director of Total Return Securities Fund (ticker: SWZ), acquired a total of 2,155 shares in two open-market purchases on June 15 and June 16, 2026. The purchases were 155 shares at $5.95 ($922) on 2026-06-15 and 2,000 shares at $5.96 ($11,920) on 2026-06-16, for a combined value of approximately $12,842. These were purchases (Form 4 transaction code P), which are purchases by an insider rather than sales.

Key Details

• Transaction dates and prices:
  • 2026-06-15: 155 shares @ $5.95 (≈ $922)
  • 2026-06-16: 2,000 shares @ $5.96 (≈ $11,920)
• Total acquired: 2,155 shares for ≈ $12,842.
• Shares owned after transaction: Not reported in the provided filing.
• Footnote: F1 states amounts include shares acquired through the issuer’s dividend reinvestment plan.
• Filing timeliness: Form 4 filed 2026-06-17 for transactions on 2026-06-15 and 2026-06-16 — appears timely (Form 4 is generally due within two business days).

Context

• These were straightforward purchases (P) reported on a Form 4; purchases by insiders can be of interest to retail investors as a positive signal but do not prove future performance. No options exercises, gifts, or sales were reported in this filing.