SELL MORITZ A 4

What Happened
Moritz A, a director of Total Return Securities Fund (ticker: SWZ), acquired a total of 2,000 shares in two transactions: 147 shares on 2026-06-17 and 1,853 shares on 2026-06-18, each at $5.91 per share, totaling approximately $11,820. The Form 4 lists these as purchases (code P) and notes the amount includes shares acquired through the issuer’s dividend reinvestment plan.

Key Details

• Transaction dates and prices: 2026-06-17 — 147 shares @ $5.91 ($869); 2026-06-18 — 1,853 shares @ $5.91 ($10,951).
• Total acquired: 2,000 shares for roughly $11,820.
• Shares owned after the transactions: Not specified in the filing excerpt.
• Footnote: F1 — amount includes shares acquired through the issuer’s dividend reinvestment plan (DRIP).
• Filing: Form 4 filed 2026-06-22 (see SEC accession 0001398344-26-011111). The filing does not show a late-filing flag in the provided record.

Context
The filing indicates these purchases include DRIP activity, meaning dividends were reinvested into additional shares rather than (or in addition to) discretionary open-market buys. Dividend reinvestment is common for fund insiders and can reflect routine income reinvestment as well as additional ownership. The transactions are purchases (potentially more informative than sales), but the filing itself does not state the insider’s motive.