Ieq Capital LLC Makes New $244,000 Investment in Cornerstone Total Return Fund, Inc. $CRF

Key Points

• Ieq Capital LLC purchased 34,000 shares of Cornerstone Total Return Fund, Inc. ($CRF), valued at approximately $244,000, during the 1st quarter.
• The company declared a monthly dividend of $0.1168 to be paid on December 31st, representing an annualized yield of 17.7%.
• Insider Director Matthew Morris sold 35,000 shares at an average price of $7.90, reducing his position by 75.32%.

Ieq Capital LLC acquired a new position in shares of Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 34,000 shares of the investment management company's stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRF. Aptus Capital Advisors LLC bought a new stake in Cornerstone Total Return Fund during the 4th quarter worth $200,000. Bank of America Corp DE grew its position in Cornerstone Total Return Fund by 539.5% during the 4th quarter. Bank of America Corp DE now owns 304,728 shares of the investment management company's stock worth $2,648,000 after acquiring an additional 257,077 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Cornerstone Total Return Fund during the 4th quarter worth $459,000. Valmark Advisers Inc. bought a new stake in Cornerstone Total Return Fund during the 1st quarter worth $86,000. Finally, Oppenheimer & Co. Inc. grew its position in Cornerstone Total Return Fund by 9.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 22,185 shares of the investment management company's stock worth $159,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 10.41% of the company's stock.

Insider Activity at Cornerstone Total Return Fund

In other Cornerstone Total Return Fund news, Director Matthew Morris sold 35,000 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $7.90, for a total value of $276,500.00. Following the sale, the director owned 11,468 shares in the company, valued at approximately $90,597.20. The trade was a 75.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 53,273 shares of company stock valued at $420,309. Insiders own 12.22% of the company's stock.

Cornerstone Total Return Fund Trading Up 0.5%

CRF stock traded up $0.04 during midday trading on Friday, reaching $8.00. 4,003,624 shares of the stock were exchanged, compared to its average volume of 727,743. The company has a fifty day moving average price of $7.84 and a 200 day moving average price of $7.51. Cornerstone Total Return Fund, Inc. has a 52 week low of $5.81 and a 52 week high of $9.75.

Cornerstone Total Return Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.1168 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 17.5%. The ex-dividend date is Monday, December 15th.

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.