Are the Calamos closed end mutual funds a good investment? Symbols CSQ CHI CHY CGO.?

These funds pay dividends from 8.4 to 9.2%. Are they risky? At this time I sure would like a 9% rate. They trade on the NYSE just like a stock. Could some of you investors who really know please comment?

I have worked with the managers running Calamos and they are a smart group. Calamos is the master behind convertable bonds, even has written a few books on the subject. Without looking up the specific funds, I can tell by the yield that these are likely to converts and hi yld bonds.
If you are unaware of the risks of hi yld and converts then you should learn first. I hate the old saying of "high return = high risk" as this is not always true, but, that said, hi yld bonds could present a problem as the consumer continues to weaken and the economy slows. Hi yld is likely to result in lower returns if defaults pick-up. In much the same way, the converts are likely to have lower yields as the equity kicker does not pick-up do to the lower returns.
However, Calamos and his Naperville crew are well aware of this, and managing their open ended funds accordingly. But wait, you said closed end! And here comes the additional problem to consider. Closed end funds should trade at NAV (net asset value), however this is not always the case as the value of the fund is based upon supply and demand. Now, the closer to maturity (or unlocking) of the closed end fund, the less likely the fund will trade below or above NAV.
Given the two back drops I would wait for expectations of rates to decline when investing in hi-yld and converts. Especially closed end funds.