Calamos Convertible Opportunities and Income Fund (NASDAQ:CHI) Stock Price Breaks Below 50 Day Moving Average – Here’s What Happened

Calamos Convertible Opportunities and Income Fund (NASDAQ:CHI) crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $12.31 and traded as low as $11.03. Calamos Convertible Opportunities and Income Fund shares last traded at $11.06, with a volume of 132,641 shares changing hands.

Calamos Convertible Opportunities and Income Fund Trading Down 2.7%

The business has a fifty day moving average of $12.31 and a 200 day moving average of $12.41.

Calamos Convertible Opportunities and Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Wednesday, October 14th will be issued a $0.0950 dividend. This represents a $1.14 annualized dividend and a dividend yield of 10.3%. The ex-dividend date is Wednesday, October 14th.

Insider Buying and Selling at Calamos Convertible Opportunities and Income Fund

In other news, major shareholder Metlife Investment Management, bought 345,000 shares of the stock in a transaction dated Wednesday, August 26th. The shares were bought 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 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Calamos Convertible Opportunities and Income Fund

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in Calamos Convertible Opportunities and Income Fund by 5.9% during the first quarter. Bank of America Corp DE now owns 2,629,637 shares of the company’s stock worth $28,242,000 after acquiring an additional 145,622 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Calamos Convertible Opportunities and Income Fund by 5.0% in the first quarter. D.A. Davidson & CO. now owns 1,097,250 shares of the company’s stock worth $11,784,000 after acquiring an additional 51,780 shares during the period. Baird Financial Group Inc. boosted its stake in Calamos Convertible Opportunities and Income Fund by 3.8% in the 2nd quarter. Baird Financial Group Inc. now owns 613,861 shares of the company’s stock worth $8,250,000 after purchasing an additional 22,625 shares during the period. Marathon Strategic Advisors LLC grew its stake in Calamos Convertible Opportunities and Income Fund by 1.9% during the second quarter. Marathon Strategic Advisors LLC now owns 293,821 shares of the company’s stock valued at $3,949,000 after acquiring an additional 5,494 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Calamos Convertible Opportunities and Income Fund by 0.7% in the first quarter. Royal Bank of Canada now owns 219,799 shares of the company’s stock worth $2,361,000 after buying an additional 1,500 shares in the last quarter.

Calamos Convertible Opportunities and Income Fund Company Profile

Calamos Convertible Opportunities and Income Fund is a closed-end management investment company listed on the Nasdaq under the symbol CHI. The fund is managed by Calamos Advisors LLC, an investment management firm specializing in convertible securities and other income-oriented strategies.

CHI seeks to provide total return through a combination of current income and capital appreciation. It invests primarily in a diversified portfolio of convertible securities, including convertible bonds and convertible preferred stock, while also allocating assets to corporate debt securities and common stocks.