Sit Investment Associates Inc. Takes Position in Cornerstone Total Return Fund, Inc. $CRF

Key Points

• Sit Investment Associates Inc. has acquired 35,000 shares of Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) valued at approximately $251,000 in the first quarter.
• The fund has announced a dividend of $0.1168 per share, to be paid on August 29th, with a remarkable yield of 1,779.0%.
• Cornerstone Total Return Fund's stock recently opened at $7.77, reflecting a yearly range between $5.81 and $9.75 after a decline of 1.9%.

Sit Investment Associates Inc. acquired a new position in Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 35,000 shares of the investment management company's stock, valued at approximately $251,000.

Several other institutional investors also recently bought and sold shares of CRF. Tabor Asset Management LP acquired a new stake in Cornerstone Total Return Fund in the 1st quarter worth about $2,648,000. Bank of America Corp DE boosted its holdings in shares of Cornerstone Total Return Fund by 539.5% during the 4th quarter. Bank of America Corp DE now owns 304,728 shares of the investment management company's stock worth $2,648,000 after purchasing an additional 257,077 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Cornerstone Total Return Fund during the 4th quarter worth approximately $1,470,000. Alpine Global Management LLC boosted its holdings in shares of Cornerstone Total Return Fund by 5.6% during the 4th quarter. Alpine Global Management LLC now owns 2,712,560 shares of the investment management company's stock worth $23,572,000 after purchasing an additional 142,632 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Cornerstone Total Return Fund by 5.9% during the 1st quarter. LPL Financial LLC now owns 1,206,414 shares of the investment management company's stock worth $8,662,000 after purchasing an additional 67,404 shares during the last quarter. 10.41% of the stock is currently owned by institutional investors and hedge funds.

Cornerstone Total Return Fund Trading Up 1.0%

Shares of Cornerstone Total Return Fund stock traded up $0.0750 on Friday, hitting $7.8150. 409,802 shares of the company were exchanged, compared to its average volume of 1,134,891. The company has a 50-day moving average price of $7.76 and a 200 day moving average price of $7.64. Cornerstone Total Return Fund, Inc. has a 1-year low of $5.81 and a 1-year high of $9.75.

Cornerstone Total Return Fund Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.1168 per share. This represents a dividend yield of 1,779.0%. The ex-dividend date is Friday, August 15th.

About Cornerstone Total Return Fund

Cornerstone Total Return Fund, Inc is a closed-ended equity mutual fund launched and managed by Cornerstone Advisors, LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in value and growth stocks of companies across all market capitalizations.