Calamos Convertible Opportunities and Income Fund (NASDAQ:CHI) Share Price Breaks Below Fifty Day Moving Average – Time to Sell?

Calamos Convertible Opportunities and Income Fund (NASDAQ:CHI) passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $12.53 and traded as low as $11.25. Calamos Convertible Opportunities and Income Fund shares last traded at $11.37, with a volume of 191,416 shares trading hands.

Calamos Convertible Opportunities and Income Fund Price Performance

The firm’s fifty day moving average is $12.51 and its two-hundred day moving average is $12.38.

Calamos Convertible Opportunities and Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Wednesday, October 14th will be issued a $0.0950 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $1.14 annualized dividend and a dividend yield of 9.9%.

Insider Activity at Calamos Convertible Opportunities and Income Fund

In other news, major shareholder Metlife Investment Management, bought 345,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were purchased at an average price of $25.00 per share, with a total value of $8,625,000.00. Following the completion of the acquisition, the insider directly owned 112,000 shares in the company, valued at approximately $2,800,000. This trade represents a -148.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Calamos Convertible Opportunities and Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its holdings in shares of Calamos Convertible Opportunities and Income Fund by 3.9% in the first quarter. Sanctuary Advisors LLC now owns 29,370 shares of the company’s stock valued at $315,000 after buying an additional 1,102 shares during the period. Kestra Advisory Services LLC raised its position in Calamos Convertible Opportunities and Income Fund by 277.7% in the first quarter. Kestra Advisory Services LLC now owns 33,451 shares of the company’s stock worth $359,000 after acquiring an additional 24,594 shares in the last quarter. Independent Financial Group LLC acquired a new stake in Calamos Convertible Opportunities and Income Fund in the 1st quarter valued at about $342,000. Private Advisor Group LLC boosted its position in shares of Calamos Convertible Opportunities and Income Fund by 3.5% during the 1st quarter. Private Advisor Group LLC now owns 30,221 shares of the company’s stock valued at $325,000 after purchasing an additional 1,032 shares in the last quarter. Finally, Money Concepts Capital Corp acquired a new position in shares of Calamos Convertible Opportunities and Income Fund in the 1st quarter worth approximately $148,000.

Calamos Convertible Opportunities and Income Fund Company Profile

Calamos Convertible Opportunities and Income Fund (NASDAQ: CHI) is a diversified, closed-end investment fund managed by Calamos Advisors LLC. The fund seeks to provide current income and capital appreciation by investing primarily in convertible securities and high-yield corporate bonds.

Convertible securities generally combine characteristics of fixed-income investments and common stocks, offering the potential for income while allowing participation in the issuer’s equity appreciation.