Baird Financial Group Inc. Reduces Stock Position in Cornerstone Total Return Fund, Inc. $CRF

Key Points

• Baird Financial Group Inc. reduced its stake in Cornerstone Total Return Fund by 40.2%, selling 63,119 shares and holding 93,782 shares worth approximately $673,000 as of the end of the first quarter.
• The Cornerstone Total Return Fund will pay a $0.1168 monthly dividend to stockholders of record on December 15th, with an annualized yield of 17.7%.
• Director Matthew Morris sold 35,000 shares of the stock at an average price of $7.90, representing a 75.32% decrease in his holdings post-transaction.

Baird Financial Group Inc. decreased its stake in Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Free Report) by 40.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,782 shares of the investment management company's stock after selling 63,119 shares during the period. Baird Financial Group Inc.'s holdings in Cornerstone Total Return Fund were worth $673,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CRF. Valmark Advisers Inc. bought a new position in shares of Cornerstone Total Return Fund in the 1st quarter worth $86,000. Brookwood Investment Group LLC bought a new position in shares of Cornerstone Total Return Fund in the 1st quarter worth $90,000. Oppenheimer & Co. Inc. increased its holdings in shares of Cornerstone Total Return Fund by 9.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 22,185 shares of the investment management company's stock worth $159,000 after buying an additional 2,000 shares during the last quarter. Ieq Capital LLC bought a new position in shares of Cornerstone Total Return Fund in the 1st quarter worth $244,000. Finally, Sit Investment Associates Inc. bought a new position in shares of Cornerstone Total Return Fund in the 1st quarter worth $251,000. Institutional investors own 10.41% of the company's stock.

Cornerstone Total Return Fund Price Performance

Shares of NYSEAMERICAN:CRF traded down $0.12 during trading on Monday, reaching $7.88. The company had a trading volume of 687,132 shares, compared to its average volume of 887,327. The company has a fifty day moving average of $7.84 and a two-hundred day moving average of $7.48. Cornerstone Total Return Fund, Inc. has a 12 month low of $5.81 and a 12 month high of $9.75.

Cornerstone Total Return Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued 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 17.8%.

Insider Activity at Cornerstone Total Return Fund

In related news, Director Matthew Morris sold 35,000 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $7.90, for a total transaction of $276,500.00. Following the transaction, the director owned 11,468 shares of the company's stock, valued at approximately $90,597.20. This trade represents a 75.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 53,273 shares of company stock worth $420,309. 14.50% of the stock is currently owned by company insiders.

Cornerstone Total Return Fund 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.