SCHEDULE: MetLife Investment Management Divests Convertible Fund Shares

MetLife Investment Management, LLC has reported zero beneficial ownership of Calamos Convertible & High Income Fund's Series D Mandatory Redeemable Preferred Shares as of August 31, 2026.

Summary

• MetLife Investment Management, LLC (the Reporting Person) has filed an amendment to its Schedule 13G.
• As of August 31, 2026, the Reporting Person no longer beneficially owns any Series D Mandatory Redeemable Preferred Shares of Calamos Convertible & High Income Fund.
• This filing indicates a 0% ownership stake, with zero shares held for voting or disposition.
• The filing is an amendment to a previous filing, indicating a change in ownership status.

Sentiment

Score: 2

Explanation: StockSavvy.ai views this as a neutral to slightly negative filing due to the complete divestment of shares, indicating a lack of current investment interest.

Negatives

• MetLife Investment Management, LLC has completely divested its holdings in the Series D Mandatory Redeemable Preferred Shares of Calamos Convertible & High Income Fund.
• The Reporting Person now holds 0% of the class of securities.

Future Outlook

No forward-looking statements or guidance are provided in this filing.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."
• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct."

Industry Context

StockSavvy.ai notes that a complete divestment by a significant entity like MetLife Investment Management can signal a lack of confidence in the specific security or a strategic shift away from such investment types within the convertible and high-income fund sector.

Stakeholder Impact

• Shareholders of Calamos Convertible & High Income Fund may view this divestment by a notable investor as a negative signal, potentially impacting market sentiment and share price.

Key Dates

Recommendation

The filing indicates a complete divestment by MetLife Investment Management, LLC, suggesting a lack of current interest. However, without further context on the reasons for divestment or the fund's performance, a 'hold' recommendation is prudent, advising investors to monitor the situation for further developments or to seek additional information before making a decision.

Keywords

Mandatory Redeemable Preferred Shares, Convertible Fund, Ownership Change, Divestment, Securities