Calamos Convertible Opportunities and Income Fund (NASDAQ:CHI) Stock Passes Below 50-Day Moving Average – Here’s Why

Shares of Calamos Convertible Opportunities and Income Fund (NASDAQ:CHI) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $13.00 and traded as low as $12.90. Calamos Convertible Opportunities and Income Fund shares last traded at $13.01, with a volume of 116,010 shares changing hands.

Calamos Convertible Opportunities and Income Fund Stock Performance

The company’s 50-day moving average price is $12.99 and its 200-day moving average price is $12.25.

Calamos Convertible Opportunities and Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a $0.095 dividend. This represents a c) dividend on an annualized basis and a yield of 8.9%. The ex-dividend date was Friday, August 14th.

Insider Transactions at Calamos Convertible Opportunities and Income Fund

In related news, major shareholder Metlife Investment Management, acquired 345,000 shares of Calamos Convertible Opportunities and Income Fund stock in a transaction that occurred on Wednesday, August 26th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $8,625,000.00. Following the completion of the purchase, the insider directly owned 112,000 shares of the company’s stock, 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 document filed 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 have recently modified their holdings of the company. CWM LLC purchased a new stake in shares of Calamos Convertible Opportunities and Income Fund during the 4th quarter valued at $38,000. Kestra Advisory Services LLC acquired a new position in Calamos Convertible Opportunities and Income Fund in the fourth quarter valued at $93,000. Jane Street Group LLC acquired a new position in Calamos Convertible Opportunities and Income Fund in the first quarter valued at $97,000. Creative Planning purchased a new stake in Calamos Convertible Opportunities and Income Fund during the second quarter valued at about $116,000. Finally, Allworth Financial LP grew its position in Calamos Convertible Opportunities and Income Fund by 33.2% during the fourth quarter. Allworth Financial LP now owns 11,897 shares of the company’s stock valued at $125,000 after acquiring an additional 2,962 shares during the period.

Calamos Convertible Opportunities and Income Fund Company Profile

Calamos Convertible Opportunities and Income Fund (NASDAQ: CHI) is a diversified, closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund primarily invests in convertible securities, including convertible bonds and preferred stocks, as well as high-yield debt instruments and equity securities. By blending income-generating instruments with the capital-appreciation potential of convertibles, CHI aims to provide investors with a balanced risk-return profile.

The fund pursues its investment strategy through fundamental research and active security selection, targeting issuers across various sectors and geographies.