Cornerstone Advisors LLC Sells 88,636 Shares of Lazard Global Total Return and Income Fund, Inc. (NYSE:LGI)

Cornerstone Advisors LLC lowered its position in Lazard Global Total Return and Income Fund, Inc. (NYSE:LGI) by 37.0% in the first quarter, HoldingsChannel.com reports. The fund owned 150,758 shares of the company’s stock after selling 88,636 shares during the quarter. Cornerstone Advisors LLC’s holdings in Lazard Global Total Return and Income Fund were worth $2,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. grew its stake in Lazard Global Total Return and Income Fund by 3.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 73,416 shares of the company’s stock valued at $1,199,000 after acquiring an additional 2,503 shares during the period. Blue Bell Private Wealth Management LLC raised its stake in Lazard Global Total Return and Income Fund by 3,764.3% in the first quarter. Blue Bell Private Wealth Management LLC now owns 11,593 shares of the company’s stock valued at $189,000 after buying an additional 11,293 shares during the period. Eagle Rock Investment Company LLC acquired a new position in shares of Lazard Global Total Return and Income Fund in the first quarter valued at $276,000. Quarry LP acquired a new position in shares of Lazard Global Total Return and Income Fund in the fourth quarter valued at approximately $251,000. Finally, Quantedge Capital Pte Ltd boosted its position in shares of Lazard Global Total Return and Income Fund by 104.4% in the fourth quarter. Quantedge Capital Pte Ltd now owns 22,281 shares of the company’s stock valued at $341,000 after acquiring an additional 11,381 shares during the period.

Lazard Global Total Return and Income Fund Stock Performance

Shares of Lazard Global Total Return and Income Fund stock traded down $0.04 on Friday, reaching $16.41. 28,588 shares of the stock were exchanged, compared to its average volume of 41,243. Lazard Global Total Return and Income Fund, Inc. has a one year low of $12.65 and a one year high of $17.06. The firm’s 50 day moving average is $16.68 and its 200-day moving average is $16.01.

Lazard Global Total Return and Income Fund Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Thursday, July 11th will be paid a $0.1046 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.26 annualized dividend and a dividend yield of 7.65%.

Lazard Global Total Return and Income Fund Profile

Lazard Global Total Return and Income Fund, Inc is a closed ended balanced mutual fund launched and managed by Lazard Asset Management LLC. It invests in public equity and fixed income markets across the globe. The fund primarily invests in stocks of companies with market capitalization over $5 billion.