Dakos Andrew 4

What Happened
Andrew Dakos, President & CEO and a director of Total Return Securities Fund (SWZ), made two purchases of SWZ shares: 1,700 shares on 2026-03-11 and 3,324 shares on 2026-03-12. Both purchases were at $6.00 per share, totaling 5,024 shares and approximately $30,144. These transactions were coded as purchases (P), i.e., open market or private buys.

Key Details

• Transaction dates and amounts:
  • 2026-03-11: 1,700 shares @ $6.00 = $10,200
  • 2026-03-12: 3,324 shares @ $6.00 = $19,944
• Total: 5,024 shares; total value ≈ $30,144.
• Transaction type: P = Purchase (open market or private purchase).
• Shares owned after transaction: Not specified in this Form 4 filing.
• Footnote: F1 — the shares are held by a limited partnership in which Mr. Dakos has a beneficial interest; he disclaims beneficial ownership except to the extent of any pecuniary interest.
• Filing: Form 4 filed 2026-03-13 (appears timely relative to the reported trade dates).

Context
These are direct purchases by an executive/insider rather than sales or option exercises. While insider purchases can be of interest to investors as a potential signal, the filing itself does not state Mr. Dakos’s reasons for buying and the footnote indicates the shares are held via a limited partnership in which he has a pecuniary interest.