Cornerstone Total Return Fund Inc (NYSEAMERICAN:CRF) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 191,302 shares, an increase of 78.8% from the November 30th total of 107,005 shares. Based on an average daily volume of 212,883 shares, the short-interest ratio is presently 0.9 days. Approximately 1.5% of the shares of the company are short sold.
Shares of Cornerstone Total Return Fund (NYSEAMERICAN CRF) opened at $15.67 on Friday. Cornerstone Total Return Fund has a 12-month low of $13.62 and a 12-month high of $16.98.
The company also recently announced a monthly dividend, which will be paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th will be given a $0.2301 dividend. The ex-dividend date is Friday, January 12th. This represents a $2.76 annualized dividend and a yield of 17.62%.
A number of hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. increased its stake in shares of Cornerstone Total Return Fund by 4.5% in the second quarter. Ameriprise Financial Inc. now owns 64,791 shares of the investment management company’s stock valued at $1,021,000 after buying an additional 2,789 shares in the last quarter. Commonwealth Equity Services Inc acquired a new stake in shares of Cornerstone Total Return Fund in the third quarter valued at $148,000. Private Advisor Group LLC acquired a new stake in Cornerstone Total Return Fund in the second quarter worth about $185,000. Virtu KCG Holdings LLC acquired a new stake in Cornerstone Total Return Fund in the second quarter worth about $224,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Cornerstone Total Return Fund by 20.9% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 84,252 shares of the investment management company’s stock worth $1,233,000 after purchasing an additional 14,540 shares during the period.
Cornerstone Total Return Fund Company Profile
Cornerstone Total Return Fund, Inc is a closed-end, diversified management investment company. The Fund’s investment objective is to seek capital appreciation with current income as a secondary objective. The Fund invests in various sectors, such as closed-end funds, information technology, financials, healthcare, consumer discretionary, industrials, energy, consumer staples, materials, telecommunication services, utilities, real estate, exchange-traded funds (ETFs) and others.
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