Summary
Andrew Dakos, who serves as President and CEO of Total Return Securities Fund (NYSE:SWZ), made insider purchases of the fund’s common stock in early April, increasing both his direct and indirect holdings. The transactions, recorded under transaction code "P", amount to a reported total investment of $29,422.
Details of the transactions
On April 2, Dakos acquired 4,863 shares at a weighted average price of $5.928. He followed up on April 6 with an additional purchase of 100 shares priced at $5.95. Both trades were executed under transaction code "P" and together are reported to total $29,422.
Following these additions to his position, Dakos directly holds 39,453 shares of the fund’s common stock. He also retains an indirect interest of 88,282 shares through a limited partnership vehicle.
Market context and valuation metrics
The stock is trading very close to its 52-week low of $5.84, with a quoted price of $5.96 at the time of the report. The fund is showing a dividend yield of 9.83% and a price-to-earnings ratio of 5.64. InvestingPro, which monitors the security and lists six additional key tips for SWZ, notes that the fund has paid dividends for 36 consecutive years.
Investor takeaways
The filings indicate incremental insider buying by the company’s chief executive at price levels close to the fund’s recent low. The combination of a near-10% dividend yield and a low reported P/E ratio are highlighted alongside the multi-decade dividend payment history tracked by InvestingPro.
Limitations
Available information is limited to the disclosed transaction dates, share counts, prices, ownership levels after the trades, and the cited valuation and dividend metrics. No additional commentary from company representatives or forward-looking statements are included in the filings referenced here.