MetLife Redeems $13M Series D Preferred, Buys $7.25M Series H
CHY sits 24% above its 52-week low of $10.41.
Summary
MetLife Investment Management redeemed $13M of Series D preferred shares and purchased $7.25M of Series H preferred shares in Calamos Convertible & High Income Fund, completing a previously announced redemption and reinvesting in a new series.
Key Events · Ownership and Investor Activity · CHY
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Series D Preferred Redemption Completed
MetLife Investment Management's 520,000 Series D Mandatory Redeemable Preferred Shares were redeemed in full at $25.00 per share, totaling $13,000,000, on August 24, 2026.
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Series H Preferred Purchase
MetLife acquired 290,000 Series H Mandatory Redeemable Preferred Shares for $7,250,000 at $25.00 per share on August 26, 2026, across four transactions.
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Reinvestment Rotation
The $7.25M Series H purchase follows the $13M Series D redemption, indicating a rotation of preferred equity holdings rather than a net exit from the fund.
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Indirect Client Holdings
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 · CHY · Unknown
MetLife Investment Management, LLC, a 10% owner of Calamos Convertible & High Income Fund (CHY), completed the full redemption of its Series D Mandatory Redeemable Preferred Shares for $13 million at $25.00 per share on August 24, 2026, and acquired $7.25 million of Series H Mandatory Redeemable Preferred Shares at the same price on August 26, 2026. The redemption was previously announced on July 23, 2026, and this filing confirms its execution. The simultaneous purchase of Series H shares indicates a reinvestment of capital into the fund's preferred equity, maintaining exposure while rotating between series. The transactions are held indirectly 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, CHY was trading at $12.96 on NASDAQ in the Unknown sector, with a market capitalization of approximately $1B. The 52-week trading range was $10.41 to $13.91. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.