A wave of insider buying has hit Calamos Convertible & High Income Fund (CHY), with regulatory filings showing four separate open-market purchases on August 26, 2026, totaling $7,250,000. The activity has been flagged by whoisbuyingnow.com’s tracking system as a cluster buy, a pattern that stands out because multiple insiders or related purchases landed on the same day and in the same direction.
The largest single disclosure in the group comes from MetLife Investment Management, LLC, listed as an insider of the fund. According to the Form 4 filing, MetLife Investment Management purchased 96,000 shares of CHY at a price of $25.00 per share, for a total transaction value of $2,400,000.00. The purchase was made on the open market, meaning the firm used its own capital to acquire the position rather than receiving shares through options, grants, or other compensation-linked mechanisms.
Following the transaction, MetLife Investment Management’s stake stood at 96,000 shares, held indirectly through a trust or entity structure rather than in a direct personal or corporate account. That detail suggests the position is being managed as part of a broader investment vehicle rather than a standalone individual holding.
Part of a Larger Same-Day Pattern
What makes this filing notable is not the size of a single trade but its place within a broader cluster. Between August 26, 2026 and August 26, 2026, four open-market purchases were recorded in connection with CHY, adding up to $7,250,000 in aggregate insider buying. MetLife Investment Management’s $2.4 million purchase represents a substantial share of that total, but it is one piece of a coordinated-looking pattern rather than an isolated bet.
Clustered insider buying, where several purchases occur in close proximity in time and direction, has drawn attention from researchers and market watchers over the years. Academic studies have found that clusters of insider purchases can correlate with periods of subsequent outperformance on average, though such research reflects broad statistical tendencies across many companies and time periods, not a prediction about any single fund or filing.
This report is based solely on information disclosed in the Form 4 filing and related same-day transactions and is intended to inform readers about publicly available insider trading activity. It does not constitute investment advice, and readers should treat the disclosure as one data point among many when following developments at Calamos Convertible & High Income Fund.
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Source: original SEC Form 4 filing.