Saba Capital Management L.P. Sells 201,144 Shares of Total Return Securities, Inc. $SWZ

Key Points

• Saba Capital Management cut its Total Return Securities stake by 33.2% in the first quarter, selling 201,144 shares and retaining 404,080 shares worth approximately $2.4 million.
• Other institutional investors increased their positions, including North Ground Capital and Alpine Global Management, while institutional investors collectively owned 41.12% of the fund.
• Insiders bought shares recently: Phillip Goldstein and CEO Andrew Dakos purchased a combined 13,480 shares, contributing to 33,226 insider-purchased shares over the past 90 days. SWZ opened at $5.87, near its one-year low of $5.84.

Saba Capital Management L.P. trimmed its position in Total Return Securities, Inc. (NYSE:SWZ - Free Report) by 33.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 404,080 shares of the closed-end fund's stock after selling 201,144 shares during the period. Saba Capital Management L.P. owned about 3.12% of Total Return Securities worth $2,396,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. North Ground Capital lifted its stake in shares of Total Return Securities by 241.6% in the 4th quarter. North Ground Capital now owns 661,145 shares of the closed-end fund's stock worth $4,112,000 after purchasing an additional 467,622 shares during the period. Matisse Capital grew its position in Total Return Securities by 0.5% during the fourth quarter. Matisse Capital now owns 610,000 shares of the closed-end fund's stock valued at $3,794,000 after buying an additional 3,000 shares during the period. Rivernorth Capital Management LLC grew its position in Total Return Securities by 15.4% during the fourth quarter. Rivernorth Capital Management LLC now owns 437,018 shares of the closed-end fund's stock valued at $2,718,000 after buying an additional 58,381 shares during the period. Alpine Global Management LLC increased its holdings in Total Return Securities by 372.2% during the fourth quarter. Alpine Global Management LLC now owns 413,169 shares of the closed-end fund's stock valued at $2,570,000 after buying an additional 325,669 shares during the last quarter. Finally, Evolve Private Wealth LLC purchased a new stake in Total Return Securities during the fourth quarter valued at approximately $1,355,000. 41.12% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Phillip Goldstein purchased 5,980 shares of the business's stock in a transaction on Monday, July 6th. The stock was acquired at an average price of $5.95 per share, with a total value of $35,581.00. Following the completion of the acquisition, the insider owned 119,214 shares of the company's stock, valued at approximately $709,323.30. This trade represents a 5.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Dakos purchased 7,500 shares of Total Return Securities stock in a transaction on Wednesday, May 27th. The stock was bought at an average price of $5.97 per share, with a total value of $44,775.00. Following the transaction, the chief executive officer owned 120,500 shares of the company's stock, valued at approximately $719,385. This represents a 6.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 33,226 shares of company stock worth $197,708. 0.03% of the stock is owned by insiders.

Total Return Securities Trading Down 0.2%

Shares of Total Return Securities stock opened at $5.87 on Tuesday. Total Return Securities, Inc. has a 1-year low of $5.84 and a 1-year high of $6.43. The company's fifty day simple moving average is $5.93 and its 200-day simple moving average is $6.01.

Total Return Securities Profile

Total Return Securities NYSE: SWZ is a closed-end management investment company listed on the New York Stock Exchange. The fund seeks to deliver a high total return for shareholders by combining capital appreciation with current income. It provides access to a diversified portfolio of equity and fixed-income securities spanning multiple industries and regions.

SWZ's investment strategy typically blends dividend-paying common stocks, corporate bonds and other credit instruments. The fund may employ moderate leverage to enhance returns and pursues an active management approach, dynamically adjusting its allocations in response to evolving market conditions.

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