Will Calamos Convertible Opportunities and Income Fund (CHI) Short Squeeze Soon? The Stock Formed a Multiple Top Pattern

January 23, 2018 - By Darrin Black

Investors sentiment decreased to 1.25 in 2017 Q3. Its down 0.21, from 1.46 in 2017Q2. It dropped, as 8 investors sold Calamos Convertible Opportunities and Income Fund shares while 16 reduced holdings. 3 funds opened positions while 27 raised stakes. 8.91 million shares or 1.61% less from 9.06 million shares in 2017Q2 were reported.
Janney Montgomery Scott Limited, a Pennsylvania-based fund reported 34,973 shares. Moreover, Private Advisor Grp Limited Liability Com has 0.01% invested in Calamos Convertible Opportunities and Income Fund (NASDAQ:CHI) for 19,223 shares. Northwestern Mutual Wealth Mgmt holds 13,192 shares. Next Fincl Grp holds 0% or 1,325 shares. Lpl Finance Ltd Liability Com reported 258,132 shares. Envestnet Asset Management holds 0% or 49 shares. Invesco Limited invested in 31,538 shares or 0% of the stock. Vident Inv Advisory Ltd Liability Corporation owns 760,166 shares. Alabama-based Kistler has invested 0% in Calamos Convertible Opportunities and Income Fund (NASDAQ:CHI). Winslow Evans And Crocker owns 6 shares. Commonwealth Equity Ser, a Massachusetts-based fund reported 475,155 shares. Thompson Davis Com Incorporated, a Virginia-based fund reported 162 shares. Walter & Keenan Consulting Mi Adv, Indiana-based fund reported 25,500 shares. Texas Yale reported 88,657 shares stake. Us Bankshares De owns 2,610 shares.

The stock of Calamos Convertible Opportunities and Income Fund (CHI) shows a multiple tops pattern with $11.62 target or 3.00 % above today’s $11.28 share price. The 6 months chart pattern indicates low risk for the $790.71 million company. It was reported on Jan, 23 by Finviz.com. If the $11.62 price target is reached, the company will be worth $23.72M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.53% or $0.06 during the last trading session, reaching $11.28. About 251,443 shares traded. Calamos Convertible Opportunities and Income Fund (NASDAQ:CHI) has risen 13.66% since January 23, 2017 and is uptrending. It has underperformed by 3.04% the S&P500.

More recent Calamos Convertible Opportunities and Income Fund (NASDAQ:CHI) news were published by: Barrons.com which released: “Convertible Bonds: An Overlooked Income Source” on July 02, 2016. Also Seekingalpha.com published the news titled: “PIMCO Dynamic Credit Income Fund (PCI): A Good Or Bad Investment?” on September 21, 2016. Marketwatch.com‘s news article titled: “Calamos Convertible Opportunities & Income Fund” with publication date: June 26, 2011 was also an interesting one.

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