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Calamos Convertible Opportunities and Income Fund (CHI)

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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11.75+0.13 (+1.12%)
At close: 04:00PM EDT
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  • D
    Darla
    They CUT THE DIVIDEND! There is no news, and a big drop? I'm pretty tolerant about a lot of things, with my investments, but a dividend cut is a HUGE red flag on the grid iron. I just sold all of my CHI shares,and I may sell my other Calamos funds too.
  • A
    Allen
    Take 2. I can't imagine why Yahoo would kill my post here... In the 1st week of April, 2019, I bought my 1st positions of CHI, at $10.20, 10.24, and 10.31 . All at roughly a 4.4% Discount to NAV. To fund this, I sold some of my long term holdings of PIMCO's PTY, and FPL. I did this after PIMCO had slashed the distributions on several of their funds, but not mine. The funds slashed, had NAV's in the nosebleed territory of 50% under their price. PTY has a still high altitude ratios of 20% of price/NAV. I know CHI was slashed last fall, but it seems solid now. Good luck to my fellow longs here !
  • D
    David
    Sure looks like some insider news today that us mere mortals are not privy to is going on.
  • S
    Scott
    19% Dividend Raise!!
  • S
    Scott
    Top holdings for CHI:

    Tesla, Inc. Convertible Bonds 6.1%
    Microchip Technology, Inc. Convertible Bonds 1.8%
    Splunk, Inc. Convertible Bonds 1.6%
    Broadcom, Inc. DECS,ACES,PRIDES 1.4%
    Royal Caribbean Cruises, Ltd. Convertible Bonds 1.4%
    Southwest Airlines Company Convertible Bonds 1.4%
    Insulet Corp. Convertible Bonds 1.3%
    Square, Inc. Convertible Bonds 1.2%
    Inphi Corp. Convertible Bonds 1.2%
    Workday, Inc. Convertible Bonds 1.2%
    Total 18.7%
  • R
    RB
    A 10% drop, did we get a LT capitol gain? How can this be? Bad news
  • R
    Ron
    Guys, I notice CHI in September 2017 privately placed a large issue of preferred shares which get paid before common shares.
    I could find no details of who bought the preferred shares, what price they paid ect. Preferred share issuance can be a negative affect on shares here if earnings get slim. Not many followers here, but can David or anyone comment on this ?
    I was getting ready to buy a large position here, but hesitate until I learn more about the CHI preferred placement.
  • J
    Jkenn19
    Why is this happening? No news and a drop like this?
  • R
    Ron
    Okay, I found this news release which better explains the issuance of three new preferred share series for a total of $100M for which CHI will pay monthly dividends. The $100,000,000 is to be available for leverage. As borrowed money, instead of capitalized money, this puts a monthly cost burden on CHI earnings, if leverage income does not exceed this added cost. The three preferred series shall be redeemable in 3, 5 and 10 years. The outcome of this BOD move adds #$%$ shoot risk into the unknown future. I will continue to look at other closed end funds that might bode less risk. CHI has a complex investment strategy and is multi-faceted. I will put CHI on my NAV and share watch list and may pick up some on share weakness. A price drop of 30 cents is tax free over getting 30 cents dividends. I like non-taxable benefits. http://www.calamos.com/-/media/documents/News-Releases/2017/09-06-17-MRPSpressreleaseFINAL.pdf?
  • D
    David
    Anyone know why the February dividend announcement is late? Ron, thanks for the info on the stock issuance, does give one pause. I guess I'll hang in a little longer as I don't see many alternatives of late.
  • Y
    Yahoo Finance Insights
    CHI is down -5.26% to 10.45
  • Y
    Yahoo Finance Insights
    CHI reached a 52 Week low at $8.17
  • Y
    Yahoo Finance Insights
    CHI reached a new 52 Week Low at 10.25
  • Y
    Yahoo Finance Insights
    CHI reached a new 52 Week Low at $9.68
  • D
    David Ball
    Looks like we are coming back up in price...volume up today1/4/17...not sure how corporate bonds will react on increased interest rates....
  • D
    David
    Are we in for good news or bad since the dvidend announcement is nonexistent at this late date?
  • B
    Barebuttbob
    NEEDS TO DROP 5% HERE, BEFORE I WOULD BUY @ MSRP PRICE
  • J
    Julie
    6 winners in 9 days. Can’t beat those stats and THESTOCKDORK (search them) is the reason I am on top
  • A
    Anonymous
    Dividend cut is a big deal
  • Y
    Yahoo Finance Insights
    CHI is up 5.03% to $8.77
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