Calamos Long/Short Equity & Dynamic Income Term Trust (NASDAQ:CPZ) Shares Down 1.4% – Time to Sell?

Calamos Long/Short Equity & Dynamic Income Term Trust (NASDAQ:CPZ) was down 1.4% on Thursday . The stock traded as low as $12.70 and last traded at $12.78. Approximately 68,039 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 85,497 shares. The stock had previously closed at $12.96.

Calamos Long/Short Equity & Dynamic Income Term Trust Stock Performance

The company has a 50 day moving average price of $12.97 and a 200-day moving average price of $13.88.

Calamos Long/Short Equity & Dynamic Income Term Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, July 14th were paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a c) dividend on an annualized basis and a yield of 13.1%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CPZ. Bank of America Corp DE lifted its position in shares of Calamos Long/Short Equity & Dynamic Income Term Trust by 55.1% in the 4th quarter. Bank of America Corp DE now owns 3,500 shares of the company’s stock worth $52,000 after purchasing an additional 1,244 shares during the period. Cetera Investment Advisers increased its position in shares of Calamos Long/Short Equity & Dynamic Income Term Trust by 5.4% during the second quarter. Cetera Investment Advisers now owns 29,649 shares of the company’s stock valued at $481,000 after buying an additional 1,516 shares during the period. XTX Topco Ltd bought a new position in Calamos Long/Short Equity & Dynamic Income Term Trust in the second quarter worth about $201,000. Raymond James Financial Inc. raised its stake in Calamos Long/Short Equity & Dynamic Income Term Trust by 31.1% in the second quarter. Raymond James Financial Inc. now owns 438,105 shares of the company’s stock worth $7,110,000 after buying an additional 103,935 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Calamos Long/Short Equity & Dynamic Income Term Trust in the second quarter worth about $320,000.

About Calamos Long/Short Equity & Dynamic Income Term Trust

Calamos Long/Short Equity & Dynamic Income Term Trust (NASDAQ: CPZ) is a closed-end management investment company that seeks to deliver long-term total return through a combination of capital appreciation and current income. The trust pursues this objective by maintaining a diversified portfolio of equity securities with an overlay of dynamic income strategies, including the use of call and put options.

The trust’s core investment approach combines long and short positions in U.S. and foreign equities, allowing portfolio managers to express both positive and negative views on individual securities and sectors.