Sculptor Capital LP Buys New Position in Cornerstone Total Return Fund, Inc. $CRF

Key Points

• Sculptor Capital LP acquired 2.77 million shares of Cornerstone Total Return Fund, valued at approximately $19.9 million and representing about 2.37% of the fund.
• CRF shares opened at $6.48, near their 52-week low of $6.44 and below both the 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.1176 per share, implying an annualized yield of approximately 21.8% based on the reported share price.

Sculptor Capital LP bought a new stake in Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,768,415 shares of the investment management company's stock, valued at approximately $19,877,000. Sculptor Capital LP owned about 2.37% of Cornerstone Total Return Fund as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP increased its position in Cornerstone Total Return Fund by 380.0% during the fourth quarter. Quarry LP now owns 1,260,432 shares of the investment management company's stock worth $10,096,000 after acquiring an additional 997,836 shares during the period. Cable Car Capital LP bought a new stake in Cornerstone Total Return Fund in the 2nd quarter valued at $4,757,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Cornerstone Total Return Fund by 13,390.8% in the 4th 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. Kovack Advisors Inc. acquired a new stake in Cornerstone Total Return Fund in the 4th quarter worth $2,163,000. Finally, Osaic Holdings Inc. grew its position in Cornerstone Total Return Fund by 20.0% in the 4th quarter. Osaic Holdings Inc. now owns 801,306 shares of the investment management company's stock worth $6,418,000 after purchasing an additional 133,408 shares during the last quarter. 10.41% of the stock is owned by institutional investors.

Cornerstone Total Return Fund Stock Performance

NYSEAMERICAN:CRF opened at $6.48 on Wednesday. The firm's 50-day moving average is $7.04 and its 200-day moving average is $7.16. Cornerstone Total Return Fund, Inc. has a 52-week low of $6.44 and a 52-week high of $8.25.

Cornerstone Total Return Fund Announces Dividend

The company 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 dividend of $0.1176 per share. This represents a c) annualized dividend and a yield of 21.8%. The ex-dividend date is Tuesday, December 15th.

Cornerstone Total Return Fund Company 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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