GOLDSTEIN PHILLIP 4

What Happened

• Phillip Goldstein, a director and secretary and listed as an affiliate of the fund’s adviser, reported a purchase of 5,980 shares of Total Return Securities Fund (SWZ) on 2026-07-06. The shares were acquired at $5.95 each for a total of $35,581 in an open‑market/private purchase (transaction code P). Purchases are often viewed by investors as a more informative (potentially bullish) signal than routine sales, though filings do not state motive.

Key Details

• Transaction date: 2026-07-06; filing date: 2026-07-08 (appears timely under Form 4 rules).
• Price and amount: 5,980 shares at $5.95 per share; total purchase value $35,581.
• Transaction type: Purchase (code P) — open‑market or private purchase as reported.
• Shares owned after transaction: not specified in the provided filing details.
• No 10b5-1 plan, tax withholding, or other special footnotes were indicated in the data provided.

Context

• This was a straightforward share purchase by an insider (director/affiliate). For retail investors, insider purchases are often watched as a signal of confidence, but filings don’t explain the insider’s reason. The filing appears to have been submitted within the usual two‑business‑day window for Form 4 reports.