Advisory Solutions Group LLC Buys New Shares in Cornerstone Total Return Fund, Inc. $CRF

Key Points

• Advisory Solutions Group LLC initiated a 594,180-share position in Cornerstone Total Return Fund during the second quarter, valued at approximately $4.27 million and representing 0.51% of CRF’s shares.
• Several other institutional investors also established or expanded positions, while institutional and hedge-fund ownership reached 10.41% of CRF’s outstanding stock.
• CRF traded at $6.46, near its 52-week low, and announced a monthly dividend of $0.1176 per share, implying an annualized yield of approximately 21.8%.

Advisory Solutions Group LLC purchased a new stake in Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 594,180 shares of the investment management company's stock, valued at approximately $4,266,000. Cornerstone Total Return Fund accounts for about 1.4% of Advisory Solutions Group LLC's investment portfolio, making the stock its 18th largest position. Advisory Solutions Group LLC owned approximately 0.51% of Cornerstone Total Return Fund as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRF. Cable Car Capital LP bought a new position in Cornerstone Total Return Fund during the second quarter valued at about $4,757,000. Perennial Investment Advisors LLC acquired a new position in Cornerstone Total Return Fund in the 2nd quarter valued at approximately $3,597,000. Sculptor Capital LP bought a new stake in shares of Cornerstone Total Return Fund in the 2nd quarter worth approximately $19,877,000. Almitas Capital LLC acquired a new stake in shares of Cornerstone Total Return Fund during the 2nd quarter worth approximately $11,289,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Cornerstone Total Return Fund by 13,390.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 312,716 shares of the investment management company's stock valued at $2,505,000 after purchasing an additional 310,398 shares during the period. 10.41% of the stock is currently owned by institutional investors and hedge funds.

Cornerstone Total Return Fund Trading Down 0.5%

CRF opened at $6.46 on Friday. The firm's fifty day moving average price is $6.94 and its two-hundred day moving average price is $7.09. Cornerstone Total Return Fund, Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $8.25.

Cornerstone Total Return Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.1176 per share. This represents a c) annualized dividend and a dividend yield of 21.8%. The ex-dividend date is Tuesday, December 15th.

Cornerstone Total Return Fund Profile

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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