Form 4: MetLife Investment Management Acquires Additional Shares in Calamos Convertible & High Income Fund

MetLife Investment Management, LLC reports acquisition of Series G Mandatory Redeemable Preferred Shares in Calamos Convertible & High Income Fund on September 9, 2024.

Summary

• MetLife Investment Management, LLC, filed a Form 4 on September 11, 2024, reporting transactions in Calamos Convertible & High Income Fund [CHY].
• On September 9, 2024, MetLife Investment Management acquired 624,000, 68,000 and 108,000 Series G Mandatory Redeemable Preferred Shares at $25 per share.
• The shares are held indirectly by clients for whom MetLife Investment Management serves as investment manager.
• MetLife Investment Management disclaims beneficial ownership of these securities except to the extent of its pecuniary interest.

Sentiment

Score: 5

Explanation: Neutral sentiment as it is a standard regulatory filing indicating a transaction.

Positives

• The acquisition of additional shares indicates a continued investment in Calamos Convertible & High Income Fund.

Management Comments

• The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a publicly traded company buy or sell the company's securities; this filing indicates investment activity by MetLife Investment Management in Calamos Convertible & High Income Fund.

Stakeholder Impact

• The acquisition of shares may have a minor positive impact on shareholder confidence.

Key Dates