Calamos Convertible Opportunities and Income Fund

CHI

Market cap $871M

METRO CHICAGO, Ill. , Oct. 1, 2025 /PRNewswire/ -- Calamos Investments®* has announced monthly distributions and sources of distributions paid in October 2025 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.

CHI's premium has declined to near parity, making it a more attractive entry point for convertible and high-yield exposure seekers. The fund offers an 11.19% yield, but distributions rely on capital gains as net investment income remains negative, which can be negative in a stretched market. While not a deep bargain, CHI is worth considering now, though waiting for a broader market pullback could provide a better buying opportunity.

METRO CHICAGO, Illinois , Sept. 2, 2025 /PRNewswire/ -- Calamos Investments®* has announced monthly distributions and sources of distributions paid in September 2025 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.

METRO CHICAGO, Ill. , Aug. 1, 2025 /PRNewswire/ -- Calamos Investments®* has announced monthly distributions and sources of distributions paid in August 2025 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.

We closed out the first half of 2025, making it an appropriate time to give the overall CEF space a fresh look for potential opportunities. As the broader equity indexes have been performing quite well, discounts in the CEF space have narrowed overall. The best relative value more broadly is in the municipal bond space and the "hybrid" funds.

Calamos Convertible Opportunities and Income Fund provides leveraged exposure to convertible and vanilla high-yield bonds. That said, take note of CHI's large portion of unrated holdings. At face value, a yield in excess of 10% and a recent sell-off present a potential opportunity to income-seeking and value investors. Rushing into CHI's headline metrics might leave some disappointed. The fund reported a semi-annual net loss and reverted to ROC in recent months to sustain its yield.

METRO CHICAGO, Ill. , July 1, 2025 /PRNewswire/ -- Calamos Investments®* has announced monthly distributions and sources of distributions paid in July 2025 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.

For income investors, closed-end funds remain an attractive investment class that covers various asset classes and promises high distributions and reasonable total returns. Closed-end funds, or CEFs, are generally characterized by higher volatility and deeper drawdowns than the broader market. For these reasons, they are not suited for everyone. In this monthly series, we highlight five CEFs with solid track records that pay high distributions and offer "excess" discounts. We try to separate the wheat from the chaff using our filtering process to select just five CEFs every month from around 500 closed-end funds.

Calamos Convertible Opportunities and Income Fund offers a high 11.3% yield and monthly income, but recent price declines and NAV stagnation temper enthusiasm. The fund's heavy exposure to below-investment-grade and unrated debt, plus aggressive leverage, increases risk in a high-rate environment. CHI trades at a premium to NAV, making its valuation less attractive until interest rate cuts materialize or market conditions improve.

METRO CHICAGO, Ill. , June 2, 2025 /PRNewswire/ -- Calamos Investments®* has announced monthly distributions and sources of distributions paid in June 2025 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.