Ursa Fund Management LLC Makes New Investment in Cornerstone Total Return Fund, Inc. $CRF

Key Points

• Ursa Fund Management LLC invested $359,000 in Cornerstone Total Return Fund, purchasing 50,000 shares, which now represents 0.9% of their investment portfolio.
• Cornerstone Total Return Fund announced a monthly dividend of $0.1168 per share, equating to an annualized yield of 17.7%, payable on December 31st.
• Bank of America significantly increased its holdings in Cornerstone Total Return Fund by 539.5% in the fourth quarter, now owning over $2.6 million worth of shares.

Ursa Fund Management LLC bought a new position in shares of Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the investment management company's stock, valued at approximately $359,000. Cornerstone Total Return Fund makes up approximately 0.9% of Ursa Fund Management LLC's investment portfolio, making the stock its 9th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC increased its position in shares of Cornerstone Total Return Fund by 5.9% in the first quarter. LPL Financial LLC now owns 1,206,414 shares of the investment management company's stock worth $8,662,000 after acquiring an additional 67,404 shares in the last quarter. Tabor Asset Management LP purchased a new stake in shares of Cornerstone Total Return Fund in the first quarter worth about $2,648,000. Bank of America Corp DE raised its holdings in shares of 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 valued at $2,648,000 after buying an additional 257,077 shares during the period. Mallini Complete Financial Planning LLC lifted its position in Cornerstone Total Return Fund by 43.1% during the 1st quarter. Mallini Complete Financial Planning LLC now owns 56,604 shares of the investment management company's stock worth $406,000 after acquiring an additional 17,055 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new position in Cornerstone Total Return Fund in the 4th quarter worth approximately $459,000. 10.41% of the stock is owned by institutional investors and hedge funds.

Cornerstone Total Return Fund Trading Up 0.6%

Shares of CRF traded up $0.05 during mid-day trading on Friday, reaching $8.01. 807,667 shares of the stock traded hands, compared to its average volume of 1,109,405. The stock has a fifty day simple moving average of $7.84 and a 200 day simple moving average of $7.52. 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. Stockholders of record on Monday, December 15th will be paid a dividend of $0.1168 per share. The ex-dividend date is Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 17.5%.

Insider Activity

In other news, Director Matthew Morris sold 35,000 shares of Cornerstone Total Return Fund stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $7.90, for a total transaction of $276,500.00. Following the sale, the director directly owned 11,468 shares of the company's stock, valued at approximately $90,597.20. The trade was a 75.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 53,273 shares of company stock worth $420,309 over the last 90 days. 12.22% of the stock is currently owned by insiders.

About Cornerstone Total Return Fund

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.