Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF – Get Free Report) announced a monthly dividend on Monday, August 17th. Stockholders of record on Friday, November 13th will be paid a dividend of 0.1176 per share by the investment management company on Monday, November 30th. This represents a c) annualized dividend and a dividend yield of 21.2%. The ex-dividend date is Friday, November 13th.
Cornerstone Total Return Fund Price Performance
NYSEAMERICAN:CRF traded down $0.38 on Monday, reaching $6.66. 5,472,243 shares of the company’s stock traded hands, compared to its average volume of 1,421,919. The stock has a 50-day simple moving average of $7.13 and a 200-day simple moving average of $7.22. Cornerstone Total Return Fund has a 12 month low of $6.55 and a 12 month high of $8.25.
Institutional Trading of Cornerstone Total Return Fund
Several hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in shares of Cornerstone Total Return Fund during the first quarter valued at about $448,000. Cetera Investment Advisers lifted its position in shares of Cornerstone Total Return Fund by 3.3% in the second quarter. Cetera Investment Advisers now owns 48,911 shares of the investment management company’s stock worth $379,000 after buying an additional 1,551 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake 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 buying an additional 3,357 shares during the last quarter. Raymond James Financial Inc. boosted its stake in Cornerstone Total Return Fund by 41.7% during the second quarter. Raymond James Financial Inc. now owns 399,919 shares of the investment management company’s stock valued at $3,099,000 after buying an additional 117,775 shares during the last quarter. Finally, Sculptor Capital LP purchased a new position in Cornerstone Total Return Fund during the 2nd quarter valued at approximately $18,931,000. Hedge funds and other institutional investors own 10.41% of the company’s stock.
About Cornerstone Total Return Fund
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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