Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF – Get Free Report) declared a monthly dividend on Monday, August 17th. Stockholders of record on Thursday, October 15th will be given a dividend of 0.1176 per share by the investment management company on Friday, October 30th. This represents a c) dividend on an annualized basis and a dividend yield of 21.2%. The ex-dividend date is Thursday, October 15th.
Cornerstone Total Return Fund Trading Down 5.4%
Shares of CRF stock traded down $0.38 during trading hours on Monday, hitting $6.66. 5,472,243 shares of the company were exchanged, compared to its average volume of 1,421,919. The firm has a fifty day simple moving average of $7.13 and a 200 day simple moving average of $7.22. Cornerstone Total Return Fund has a 52-week low of $6.55 and a 52-week high of $8.25.
Hedge Funds Weigh In On Cornerstone Total Return Fund
Several institutional investors and hedge funds have recently bought and sold shares of CRF. Sculptor Capital LP grew its stake in shares of Cornerstone Total Return Fund by 5.4% during the 4th quarter. Sculptor Capital LP now owns 2,714,710 shares of the investment management company’s stock worth $21,745,000 after acquiring an additional 139,885 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Cornerstone Total Return Fund by 13,390.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 312,716 shares of the investment management company’s stock valued at $2,505,000 after acquiring an additional 310,398 shares during the period. Mirador Capital Partners LP bought a new stake in Cornerstone Total Return Fund in the 2nd quarter valued at about $567,000. Destination Wealth Management bought a new stake in Cornerstone Total Return Fund in the 4th quarter valued at about $80,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Cornerstone Total Return Fund by 29.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 49,039 shares of the investment management company’s stock valued at $393,000 after purchasing an additional 11,040 shares during the last quarter. 10.41% of the stock is owned by institutional investors.
About Cornerstone Total Return Fund
Cornerstone Total Return Fund (NYSE American: CRF) is a diversified, closed-end management investment company that seeks to provide shareholders with a combination of current income and capital appreciation. Since its initial public offering in 1989, the fund has offered investors exposure to a broad range of fixed-income and equity-related securities, leveraging a total-return strategy. Its shares trade on the NYSE American exchange, providing daily liquidity in a closed-end format.
The fund’s principal investment approach involves allocating assets across convertible securities, high-yield corporate debt, bank loans and common equities.
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