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 stake in Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 35,000 shares of the investment management company's stock, valued at approximately $251,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRF. Envestnet Asset Management Inc. purchased a new position in shares of Cornerstone Total Return Fund during the 4th quarter worth approximately $259,000. Raymond James Financial Inc. acquired a new position in Cornerstone Total Return Fund during the fourth quarter worth $1,470,000. Mariner LLC raised its position in Cornerstone Total Return Fund by 8.2% in the fourth quarter. Mariner LLC now owns 15,016 shares of the investment management company's stock worth $130,000 after acquiring an additional 1,134 shares in the last quarter. Alpine Global Management LLC lifted its holdings in Cornerstone Total Return Fund by 5.6% in the fourth quarter. Alpine Global Management LLC now owns 2,712,560 shares of the investment management company's stock valued at $23,572,000 after acquiring an additional 142,632 shares during the period. Finally, Quarry LP lifted its holdings in Cornerstone Total Return Fund by 35.8% in the fourth quarter. Quarry LP now owns 7,022 shares of the investment management company's stock valued at $61,000 after acquiring an additional 1,853 shares during the period. Institutional investors and hedge funds own 10.41% of the company's stock.

Cornerstone Total Return Fund Stock Down 0.3%

Shares of NYSEAMERICAN CRF traded down $0.0250 during midday trading on Thursday, hitting $7.7350. The company had a trading volume of 308,236 shares, compared to its average volume of 1,139,276. The business has a 50-day simple moving average of $7.76 and a two-hundred day simple moving average of $7.65. Cornerstone Total Return Fund, Inc. has a twelve month low of $5.81 and a twelve month high of $9.75.

Cornerstone Total Return Fund Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.1168 per share. This represents a dividend yield of 1,779.0%. The ex-dividend date of this dividend 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.