Cable Car Capital LP Buys Shares of 662,510 Cornerstone Total Return Fund, Inc. $CRF

Key Points

• Cable Car Capital LP purchased 662,510 shares of Cornerstone Total Return Fund, valued at approximately $4.76 million, giving it a 0.57% stake. Institutional investors collectively own 10.41% of the fund.
• CRF shares opened at $6.48, near the fund’s one-year low of $6.44 and below its 50-day and 200-day moving averages of $7.04 and $7.16, respectively.
• The fund declared a monthly dividend of $0.1176 per share, representing an annualized yield of approximately 21.8%, with payment scheduled for December 31 to shareholders of record as of December 15.

Cable Car Capital LP bought a new position in shares of Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 662,510 shares of the investment management company's stock, valued at approximately $4,757,000. Cable Car Capital LP owned 0.57% of Cornerstone Total Return Fund at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sculptor Capital LP bought a new position in Cornerstone Total Return Fund in the 2nd quarter worth about $18,931,000. Quarry LP grew its stake in Cornerstone Total Return Fund by 380.0% in the 4th quarter. Quarry LP now owns 1,260,432 shares of the investment management company's stock worth $10,096,000 after buying an additional 997,836 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Cornerstone Total Return Fund by 13,390.8% in 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 acquiring an additional 310,398 shares during the last quarter. Kovack Advisors Inc. purchased a new position in shares of Cornerstone Total Return Fund during the 4th quarter valued at about $2,163,000. Finally, Osaic Holdings Inc. raised its stake in shares of Cornerstone Total Return Fund by 20.0% during the fourth quarter. Osaic Holdings Inc. now owns 801,306 shares of the investment management company's stock worth $6,418,000 after acquiring an additional 133,408 shares in the last quarter. Institutional investors own 10.41% of the company's stock.

Cornerstone Total Return Fund Stock Up 0.3%

Shares of Cornerstone Total Return Fund stock opened at $6.48 on Wednesday. The business's 50 day simple moving average is $7.04 and its two-hundred day simple moving average is $7.16. Cornerstone Total Return Fund, Inc. has a one year low of $6.44 and a one year high of $8.25.

Cornerstone Total Return Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be paid a $0.1176 dividend. This represents a c) dividend on an annualized basis and a yield of 21.8%. The ex-dividend date of this dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source