Yakira Capital Management Inc. Sells 797,984 Shares of Cornerstone Total Return Fund, Inc. $CRF

Yakira Capital Management Inc. cut its stake in shares of Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) by 50.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 798,556 shares of the investment management company’s stock after selling 797,984 shares during the quarter. Cornerstone Total Return Fund accounts for about 2.2% of Yakira Capital Management Inc.’s holdings, making the stock its 15th biggest holding. Yakira Capital Management Inc.’s holdings in Cornerstone Total Return Fund were worth $6,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in Cornerstone Total Return Fund by 902.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,729 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 3,357 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Cornerstone Total Return Fund during the second quarter valued at approximately $29,000. CoreCap Advisors LLC lifted its position in Cornerstone Total Return Fund by 165.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,272 shares of the investment management company’s stock valued at $58,000 after purchasing an additional 4,537 shares during the last quarter. Destination Wealth Management bought a new stake in Cornerstone Total Return Fund during the fourth quarter valued at approximately $80,000. Finally, Goldman Sachs Group Inc. bought a new stake in Cornerstone Total Return Fund during the fourth quarter valued at approximately $80,000. 10.41% of the stock is currently owned by institutional investors.

Cornerstone Total Return Fund Stock Performance

Shares of CRF opened at $7.16 on Monday. Cornerstone Total Return Fund, Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $8.25. The firm has a 50 day moving average price of $7.21 and a 200-day moving average price of $7.49.

Cornerstone Total Return Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.1176 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 19.7%. The ex-dividend date is Tuesday, September 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.