Form 4: MetLife Investment Management Reports Redemption of Calamos Strategic Total Return Fund Preferred Shares

MetLife Investment Management, LLC, a 10% owner of Calamos Strategic Total Return Fund, reported the full redemption of its clients' Series B Mandatory Redeemable Preferred Shares by the issuer.

Summary

• MetLife Investment Management, LLC, filed a Form 4 on September 10, 2024, regarding transactions in Calamos Strategic Total Return Fund (CSQ).
• The report indicates that Series B Mandatory Redeemable Preferred Shares held by clients for whom MetLife Investment Management serves as investment manager were redeemed in full by the issuer on September 6, 2024.
• The redeemed shares included 160,000, 1,044,000, 148,000 and 148,000 shares.
• The shares were redeemed at their original purchase price of $25.00 per share, plus accrued and unpaid dividends.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing related to a redemption of preferred shares, which is a neutral event. The sentiment is therefore moderately neutral.

Positives

• The redemption of preferred shares could simplify the capital structure of Calamos Strategic Total Return Fund.

Future Outlook

There is no future outlook provided in the document.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a company trade in the company's securities. This filing indicates a change in ownership of Calamos Strategic Total Return Fund's preferred shares.

Stakeholder Impact

• Shareholders may be impacted by the change in the fund's capital structure.

Key Dates