Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF – Get Free Report) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 6,170,000 shares, a drop of 12.2% from the August 15th total of 7,030,000 shares. Based on an average trading volume of 830,000 shares, the short-interest ratio is presently 7.4 days.
Insider Transactions at Cornerstone Total Return Fund
In other news, Director Matthew Morris sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $8.43, for a total value of $337,200.00. Following the sale, the director now owns 44,012 shares of the company’s stock, valued at approximately $371,021.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.22% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Cornerstone Total Return Fund
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Group AG grew its holdings in Cornerstone Total Return Fund by 4,940.5% during the 3rd quarter. UBS Group AG now owns 4,234 shares of the investment management company’s stock valued at $34,000 after buying an additional 4,150 shares in the last quarter. AlphaMark Advisors LLC lifted its stake in shares of Cornerstone Total Return Fund by 327.6% during the 2nd quarter. AlphaMark Advisors LLC now owns 6,021 shares of the investment management company’s stock worth $48,000 after acquiring an additional 4,613 shares during the last quarter. CWM LLC lifted its stake in shares of Cornerstone Total Return Fund by 2,611.9% during the 1st quarter. CWM LLC now owns 7,268 shares of the investment management company’s stock worth $54,000 after acquiring an additional 7,000 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Cornerstone Total Return Fund during the 1st quarter worth approximately $81,000. Finally, Capital CS Group LLC purchased a new position in Cornerstone Total Return Fund during the 2nd quarter worth $88,000. 11.96% of the stock is owned by hedge funds and other institutional investors.
Cornerstone Total Return Fund Stock Down 0.5 %
Cornerstone Total Return Fund Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be given a $0.1173 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.41 annualized dividend and a yield of 17.60%.
Cornerstone Total Return Fund Company 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.
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