Absolute Investment Advisers LLC Takes Position in Cornerstone Total Return Fund, Inc. $CRF

Key Points

• Absolute Investment Advisers LLC has acquired a new stake in Cornerstone Total Return Fund, purchasing approximately 1.27 million shares valued at around $9.88 million, representing about 1.09% of the fund.
• Cornerstone Total Return Fund recently announced a monthly dividend of $0.1168 per share, which results in an annualized dividend yield of 17.6%, with the dividend payable on December 31st.
• Insider activity showed that Director Matthew Morris sold 35,000 shares of the fund, decreasing his ownership by 75.32%, amidst overall insider sales totaling 53,273 shares in the last ninety days.

Absolute Investment Advisers LLC purchased a new stake in Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,274,973 shares of the investment management company's stock, valued at approximately $9,881,000. Absolute Investment Advisers LLC owned approximately 1.09% of Cornerstone Total Return Fund at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRF. Valmark Advisers Inc. bought a new stake in Cornerstone Total Return Fund in the first quarter valued at $86,000. Wealth Enhancement Advisory Services LLC bought a new stake in Cornerstone Total Return Fund in the 2nd quarter valued at about $88,000. Brookwood Investment Group LLC bought a new stake in Cornerstone Total Return Fund in the 1st quarter valued at about $90,000. Oppenheimer & Co. Inc. increased its holdings in shares of Cornerstone Total Return Fund by 9.9% during the first quarter. Oppenheimer & Co. Inc. now owns 22,185 shares of the investment management company's stock valued at $159,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Integrity Alliance LLC. bought a new stake in shares of Cornerstone Total Return Fund during the first quarter valued at approximately $178,000. 10.41% of the stock is owned by institutional investors.

Cornerstone Total Return Fund Stock Performance

NYSEAMERICAN CRF opened at $7.95 on Thursday. Cornerstone Total Return Fund, Inc. has a 52 week low of $5.81 and a 52 week high of $9.75. The business has a 50 day moving average price of $7.85 and a 200-day moving average price of $7.46.

Cornerstone Total Return Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.1168 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 17.6%.

Insider Activity at Cornerstone Total Return Fund

In other news, Director Matthew Morris sold 35,000 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $7.90, for a total transaction of $276,500.00. Following the completion of the sale, the director directly owned 11,468 shares of the company's stock, valued at $90,597.20. The trade was a 75.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 53,273 shares of company stock worth $420,309 over the last ninety days. Insiders own 12.22% of the company's stock.

Cornerstone Total Return Fund Company Profile

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.

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