MetLife Investment Management Swaps $11M of Redeemed Series D Preferred for $8.6M of Series H
CHI sits 26% above its 52-week low of $10.26.
Summary
MetLife Investment Management redeemed $11M of Series D preferred shares and purchased $8.6M of Series H preferred shares in Calamos Convertible Opportunities & Income Fund, a net $2.4M reduction in preferred exposure.
Key Events · Ownership and Investor Activity · CHI
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Series D Preferred Fully Redeemed
On 2026-08-24, MetLife disposed of 440,000 Series D Mandatory Redeemable Preferred Shares for $11,000,000 at $25.00 per share, representing a full redemption by the issuer at original purchase price plus accrued dividends.
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Series H Preferred Purchased
Across five transactions on 2026-08-26, MetLife acquired 345,000 Series H Mandatory Redeemable Preferred Shares for $8,625,000 at $25.00 per share.
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Net Preferred Exposure Reduced
The combined transactions result in a net $2,375,000 reduction in MetLife's preferred share holdings, from $11.0M in Series D to $8.6M in Series H.
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Client Accounts and Beneficial Ownership
All securities are held directly by clients for whom MetLife serves as investment manager; MetLife disclaims beneficial ownership except to the extent of its pecuniary interest.
Analysis · CHI · Unknown
A 10% owner of Calamos Convertible Opportunities & Income Fund, MetLife Investment Management fully redeemed its Series D Mandatory Redeemable Preferred Shares for $11 million at the $25.00 liquidation price and reinvested $8.6 million into Series H Mandatory Redeemable Preferred Shares at the same $25.00 price. The net effect is a $2.4 million reduction in the firm's preferred exposure, but the simultaneous purchase of Series H indicates continued commitment to the fund's preferred capital structure. The transactions are held for client accounts, and MetLife disclaims beneficial ownership except to the extent of its pecuniary interest.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 29.9% of the 1591 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.24%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CHI was trading at $12.90 on NASDAQ in the Unknown sector, with a market capitalization of approximately $1B. The 52-week trading range was $10.26 to $13.50. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.