Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Sets New 52-Week High Following Dividend Announcement

Shares of Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) hit a new 52-week high on Wednesday following a dividend announcement from the company. The company traded as high as $8.49 and last traded at $8.48, with a volume of 35399 shares. The stock had previously closed at $8.38.

The newly announced dividend which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.1168 dividend. This represents a yield of 16.7%. The ex-dividend date of this dividend is Friday, February 14th.

Cornerstone Total Return Fund Trading Up 1.3 %

The stock’s fifty day simple moving average is $7.68.

Institutional Trading of Cornerstone Total Return Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Main Street Financial Solutions LLC boosted its holdings in shares of Cornerstone Total Return Fund by 6.7% during the third quarter. Main Street Financial Solutions LLC now owns 46,143 shares of the investment management company’s stock worth $373,000 after purchasing an additional 2,896 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Cornerstone Total Return Fund in the 3rd quarter worth approximately $120,000. Chicago Partners Investment Group LLC raised its holdings in shares of Cornerstone Total Return Fund by 7.0% during the third quarter. Chicago Partners Investment Group LLC now owns 74,007 shares of the investment management company’s stock valued at $616,000 after acquiring an additional 4,835 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Cornerstone Total Return Fund by 2.7% in the third quarter. Creative Financial Designs Inc. ADV now owns 85,737 shares of the investment management company’s stock worth $694,000 after acquiring an additional 2,273 shares during the period. Finally, Prairie Sky Financial Group LLC purchased a new stake in Cornerstone Total Return Fund in the third quarter worth $135,000. Hedge funds and other institutional investors own 10.41% of the company’s stock.

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.