Cornerstone Total Return Fund, Inc. Plans Monthly Dividend of $0.12 (NYSEAMERICAN:CRF)

Key Points

• Cornerstone Total Return Fund declared a monthly dividend of $0.1176 per share, payable November 30 to shareholders of record November 13. The dividend implies an annualized yield of approximately 21.2%.
• CRF shares fell 5.4% to $6.66 in mid-day trading, near the fund’s 12-month low of $6.55, with trading volume significantly above average.
• Institutional investors increased their holdings, and institutions collectively own 10.41% of the fund. CRF invests across convertible securities, high-yield debt, bank loans and common equities.

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Get Free Report) announced a monthly dividend on Monday, August 17th. Investors of record on Friday, November 13th will be paid a dividend of 0.1176 per share by the investment management company on Monday, November 30th. This represents a c) annualized dividend and a dividend yield of 21.2%. The ex-dividend date of this dividend is Friday, November 13th.

Cornerstone Total Return Fund Stock Down 5.4%

Cornerstone Total Return Fund stock traded down $0.38 during mid-day trading on Monday, reaching $6.66. 5,472,243 shares of the stock traded hands, compared to its average volume of 1,421,919. Cornerstone Total Return Fund has a 12-month low of $6.55 and a 12-month high of $8.25. The business's 50-day moving average is $7.13 and its 200-day moving average is $7.22.

Hedge Funds Weigh In On Cornerstone Total Return Fund

Institutional investors have recently made changes to their positions in the business. Sculptor Capital LP boosted its holdings in shares of Cornerstone Total Return Fund by 2.1% in the first quarter. Sculptor Capital LP now owns 2,771,562 shares of the investment management company's stock worth $19,262,000 after buying an additional 56,852 shares during the last quarter. LPL Financial LLC raised its position in Cornerstone Total Return Fund by 5.9% in the fourth quarter. LPL Financial LLC now owns 1,885,667 shares of the investment management company's stock worth $15,104,000 after acquiring an additional 105,444 shares during the period. Quarry LP raised its position in Cornerstone Total Return Fund by 380.0% in the fourth quarter. Quarry LP now owns 1,260,432 shares of the investment management company's stock worth $10,096,000 after acquiring an additional 997,836 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Cornerstone Total Return Fund by 20.0% during the 4th quarter. Osaic Holdings Inc. now owns 801,306 shares of the investment management company's stock worth $6,418,000 after acquiring an additional 133,408 shares during the last quarter. Finally, Cable Car Capital LP purchased a new position in shares of Cornerstone Total Return Fund during the 2nd quarter worth $4,757,000. Institutional investors own 10.41% of the company's stock.

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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