Consider the Calamos Long/Short Equity & Dynamic Income fund for less market volatility while trading at a current -10% discount. CPZ offers a unique mix: Long stocks, long corporate bonds, and shorts mostly the S&P 500, with an 11% current market yield paid monthly. CPZ uses leverage, a 33% bond portfolio, and only needs to cover a 9.8% NAV yield to maintain its 11% annualized current market yield.
CPZ has delivered a strong total return of +15% in 2024, attributed to better macro bets and pair trading strategies. The CEF structure can be a hindrance for long-short funds due to its high distribution rate and potential for return of capital distributions. CPZ maintains a net long position in Industrials, Health Care, and Information Technology.
Calamos L/S Equity & Dynamic Inc Trust offers exposure to a dynamic portfolio, but has a portfolio that works against itself. Overall, I believe there are limited reasons to own the CPZ closed-end fund, and even those reasons come with their own issues. I believe there are alternatives where investors could put their capital to work and be more effective, including new Calamos "buffer ETFs."
![]() CPZ 5 days ago Announced | Monthly | $0.14 Per Share |
![]() CPZ 1 month ago Paid | Monthly | $0.14 Per Share |
![]() CPZ 2 months ago Paid | Monthly | $0.14 Per Share |
![]() CPZ 3 months ago Paid | Monthly | $0.14 Per Share |
![]() CPZ 4 months ago Paid | Monthly | $0.14 Per Share |
19 Jun 2024 Date | | - Cons. EPS | - EPS |
![]() CPZ 5 days ago Announced | Monthly | $0.14 Per Share |
![]() CPZ 1 month ago Paid | Monthly | $0.14 Per Share |
![]() CPZ 2 months ago Paid | Monthly | $0.14 Per Share |
![]() CPZ 3 months ago Paid | Monthly | $0.14 Per Share |
![]() CPZ 4 months ago Paid | Monthly | $0.14 Per Share |
19 Jun 2024 Date | | - Cons. EPS | - EPS |
Asset Management Industry | Financial Services Sector | John Peter Calamos CEO | NASDAQ (NGS) Exchange | 12812C106 Cusip |
US Country | - Employees | 12 Jun 2025 Last Dividend | - Last Split | - IPO Date |