LPL Financial LLC Boosts Stock Position in Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF)

Key Points

• LPL Financial LLC increased its holdings in Cornerstone Total Return Fund, Inc. by 5.9%, acquiring an additional 67,404 shares during the first quarter, bringing its total holdings to approximately $8.66 million.
• The Cornerstone Total Return Fund recently announced a dividend of $0.1168 per share with a remarkable yield of 1,767.0%, paid to investors of record on July 16.
• As of Friday, Cornerstone Total Return Fund shares are trading at $7.89, with a twelve-month range between $5.81 and $9.75.

LPL Financial LLC increased its position in shares of Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Free Report) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,206,414 shares of the investment management company's stock after buying an additional 67,404 shares during the period. LPL Financial LLC's holdings in Cornerstone Total Return Fund were worth $8,662,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new position in Cornerstone Total Return Fund during the fourth quarter worth $259,000. Raymond James Financial Inc. bought a new position in Cornerstone Total Return Fund during the fourth quarter worth $1,470,000. Mariner LLC grew its holdings in Cornerstone Total Return Fund by 8.2% in the 4th quarter. Mariner LLC now owns 15,016 shares of the investment management company's stock valued at $130,000 after buying an additional 1,134 shares in the last quarter. Kane Investment Management Inc. acquired a new position in Cornerstone Total Return Fund in the 4th quarter valued at $466,000. Finally, Alpine Global Management LLC grew its holdings in Cornerstone Total Return Fund by 5.6% in the 4th quarter. Alpine Global Management LLC now owns 2,712,560 shares of the investment management company's stock valued at $23,572,000 after buying an additional 142,632 shares in the last quarter. 10.41% of the stock is currently owned by institutional investors and hedge funds.

Cornerstone Total Return Fund Price Performance

NYSEAMERICAN CRF traded down $0.01 during midday trading on Thursday, hitting $7.92. The company had a trading volume of 683,165 shares, compared to its average volume of 1,140,567. The firm has a 50-day moving average price of $7.75 and a 200-day moving average price of $7.69. Cornerstone Total Return Fund, Inc. has a twelve month low of $5.81 and a twelve month high of $9.75.

Cornerstone Total Return Fund Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a $0.1168 dividend. This represents a dividend yield of 1,779.0%. The ex-dividend date of this dividend is Friday, August 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.