SWZ Total Return Securities Fund Insider Trading

Secretary Phillip Goldstein purchases 6.0K shares of SWZ at $5.95; cluster buy pattern with 2 other insiders in 14 days

Phillip Goldstein, Secretary, purchased 5,980 shares at $5.95 on 2026-07-06, increasing his holdings by 5.3% to 119.2K shares. This buy is part of a cluster pattern: 2 other insiders also purchased within the past 14 days. At his prior trades at SWZ, Goldstein's timing has been inconsistent—only 1 of 5 prior buys at this ticker yielded positive 90-day returns, suggesting limited predictive value from his purchase decision-making at this specific holding. The current price of $5.98 is only marginally above the transaction price and sits -7.0% from the 52-week high, offering limited indication of momentum.

CEO Andrew Dakos buys 5,000 shares of SWZ at $5.92 in 2 transactions, expanding holdings to 131,000 shares

Andrew Dakos, President and CEO of Total Return Securities Fund, executed 2 separate purchases totaling 5,000 shares for $29,601.43 at a blended average price of $5.92, increasing his holdings from 126,000 to 131,000 shares. The current price of $5.98 is only marginally above the transaction price, and the stock has declined 7.0% from its 52-week high despite a +2.0% move over the past 30 days. Dakos's prior trades at SWZ show a consistent pattern of negative 30-day returns across all 5 recent purchases (ranging from -0.7% to -1.5%), and his cross-ticker track record shows a 22.22% 90-day win rate with an average 90-day return of -0.4%, suggesting limited predictive value from his prior timing decisions. The modest 4.0% increase in his holdings relative to existing stake provides minimal signal of material directional conviction.

Director Moritz A purchases 4,091 shares of SWZ at blended $5.90, raising stake 25.3% to 20.2K shares

Moritz A, a Director of Total Return Securities Fund, executed 2 separate purchases totaling 4,091 shares for $24,155.54 at a blended average price of $5.90—purchases made on 2026-06-26 and 2026-06-29. This represents a 25.3% increase in his holdings from 16,155 to 20,246 shares. The current price of $5.94 is near the transaction prices, and the stock trades 7.6% below its 52-week high of $6.43. His cross-ticker track record shows strong historical performance (18 prior buys averaging 30d return +17.0% and 90d return +18.1%, with a 90d win rate of 76.92%), though his prior trades at SWZ itself show a mixed pattern with only 1 measurable prior outcome (a -1.6% 30-day return on 2026-04-24). The timing of these purchases immediately after his 2026-06-15 through 2026-06-18 buys suggests sustained accumulation at this price level.

Director Moritz A purchases 2,000 shares at $5.91 in 2 transactions, lifting stake 14.1% to 16.2K shares.

Moritz A, a Director, executed 2 separate purchases totaling 2,000 shares for $11,820.00 at a blended average price of $5.91 on 2026-06-17 and 2026-06-18. The purchase increased his holdings from 14.2K shares to 16.2K shares, a 14.1% increase. His cross-ticker track record shows 14 prior buys with a 76.92% 90-day win rate and an average 90-day return of +18.1%, indicating general buy-timing skill. However, at SWZ specifically, his timing has been mixed: 2 of 4 measurable prior buys showed positive 90-day returns, while 2 showed modest losses, with the most recent SWZ purchase on 2026-04-24 registering a 30-day loss of -1.6%. The current price of $5.91 is -8.1% from the 52-week high and shows minimal 30-day and 90-day price momentum at this stock. This purchase represents a modest accumulation at a price near the lower end of the 52-week range but without clear macro catalyst or timing signal given the insider's uneven execution record at this specific ticker.

Director Moritz A acquires 2,155 shares at $5.95–$5.96 for $12,842.25, raising stake 18.0% to 14,155 shares.

Director Moritz A purchased 2 separate tranches totaling 2,155 shares for $12,842.25 at blended average price $5.96, expanding his holding by 18.0% from 12,000 to 14,155 shares. His cross-ticker track record shows 14 prior buys with avg 90d return +18.1% and 90d win rate 76.92%, but his prior trades at SWZ show mixed timing: 2 of 4 measurable prior buys at this ticker showed positive 90d returns. Current price of $5.91 sits within the 52-week range $5.84–$6.43 and is -8.1% from the 52-week high, providing context for entry valuation. This filing warrants observation of whether the accumulation pattern continues or reverses in coming quarters.

SWZ CEO Andrew Dakos bought 13,000 shares for $77,749.00 across 4 transactions at $5.97–$5.99, raising holdings to 126,000 shares

Andrew Dakos, President and CEO, executed 4 separate purchases totaling 13,000 shares for $77,749.00 at a blended average price of $5.98 on May 27–28, 2026, increasing his stake by 11.5% to 126,000 shares. The current price of $6.00 is -6.7% from the 52-week high of $6.43 and -0.3% over 30 days. Dakos has a cross-ticker track record of 20 prior buys with a 65.00% 90-day win rate, and at SWZ specifically, 3 of his 5 prior purchases were well-timed at the 90-day mark, most recently on May 20, May 19, and May 18, 2026 (all showing +0.7% to +0.8% 90-day returns). The volume and price proximity of these four consecutive-day purchases, combined with his consistent buying pattern at this ticker, merit tracking for post-acquisition returns.

SWZ CEO Dakos bought 7,000 shares for $41,679.87 across 3 purchases; stock down 7.3% from 52-week high.

Dakos Andrew (President and CEO) executed 3 separate purchases totaling 7,000 shares at a blended average price of $5.95, increasing his holdings from 106,000 to 113,000 shares. The current price of $5.96 sits -7.3% from the 52-week high, and his cross-ticker track record shows an average 90-day return of -0.9% after buys across 20 prior transactions, with a 90-day win rate of 31.58%. At SWZ specifically, his prior 5 buys achieved a 0 of 5 win rate at the 90-day mark, with returns ranging from -2.3% to +2.1% over 30 days post-purchase. The purchase size represents a 6.6% increase to his existing stake.

Total Return Securities Fund insider purchases over 1,000 shares near 52-week lows

An insider at Total Return Securities Fund (SWZ) executed an open-market purchase of approximately 1,000 shares, representing a meaningful ten percent addition to holdings, at a time when the stock is trading modestly below its recent highs following a modest recovery over the past three months. The timing is notable: the purchase occurs in a price zone that reflects a pullback from recent strength, suggesting the insider sees value at current levels rather than chasing momentum. As a closed-end fund, SWZ's valuation and fundamental drivers may differ from operating companies, but insider accumulation in a recovery context often signals conviction in the fund's positioning or outlook. The scale of this purchase—representing a significant concentration of the insider's activity—warrants attention to whether this reflects a broader bullish thesis or is consistent with routine portfolio rebalancing.

CEO Andrew Dakos purchased 11,265 shares for $68,314.96 at blended avg $6.06; 4 separate buys over 2 days; holdings now 106,000 shares (+11.9%)

Andrew Dakos, President and CEO of Total Return Securities Fund (SWZ), executed 4 separate purchases totaling 11,265 shares for $68,314.96 on April 16–17, 2026, at prices ranging from $6.04 to $6.09. His post-transaction holdings stand at 106,000 shares, representing an 11.9% increase from prior holdings of 94,735 shares. The intensity of this accumulation—four separate buy orders within two days, totaling 11,265 shares—indicates sustained acquisition activity despite a cross-ticker track record showing an average 30-day return of -2.2% on 20 prior buys. At the current price of $6.09, the stock is -5.1% from its 52-week high of $6.42, and Dakos's same-ticker purchase history shows five prior buys in the preceding eight days (March 30–April 8), all with outcomes not yet measurable. The pattern of repeated purchases during a period of modest underperformance relative to the 52-week range warrants attention to underlying catalysts or company fundamentals that may be driving the CEO's continuous acquisition.

CEO Dakos buys 6,000 SWZ shares in 2 transactions totaling $35.8K at $5.97 avg; holdings now 94.3K (+6.8%)

Dakos Andrew, President and CEO, executed 2 separate purchases totaling 6,000 shares for $35.8K over April 7-8, 2026, raising his position from 88,282 to 94,282 shares. The blended average purchase price of $5.97 sits near the current price of $6.08 (+1.8%), and well below the 52-week high of $9.38 (-35.2%). His track record across all tickers shows 20 prior open-market buys with an average 90-day return of -3.2%, indicating a historical pattern of purchases followed by modest declines. At SWZ specifically, he has made 5 prior purchases within the last two weeks (March 24 through April 6), suggesting sustained accumulation at current levels, though outcomes on those trades remain unmeasurable. The rapid-fire sequence of buys in a narrow price band ($5.95–$5.98) during a period when the stock sits 35% below its 52-week high warrants monitoring of whether this accumulation signals renewed conviction or reflects systematic accumulation unrelated to tactical pricing.