Cornerstone Total Return Fund Inc (NYSEAMERICAN:CRF) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 674,121 shares, a drop of 12.5% from the August 15th total of 770,384 shares. Based on an average trading volume of 256,149 shares, the days-to-cover ratio is currently 2.6 days. Approximately 3.0% of the company’s stock are short sold.
A number of institutional investors have recently made changes to their positions in CRF. NINE MASTS CAPITAL Ltd acquired a new stake in Cornerstone Total Return Fund during the 2nd quarter valued at $2,889,000. Ford Financial Group Inc. lifted its holdings in Cornerstone Total Return Fund by 133.5% during the 1st quarter. Ford Financial Group Inc. now owns 60,600 shares of the investment management company’s stock valued at $916,000 after purchasing an additional 34,650 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in Cornerstone Total Return Fund during the 1st quarter valued at $228,000.
Shares of NYSEAMERICAN:CRF traded down $0.10 during midday trading on Friday, hitting $13.64. The stock had a trading volume of 299,613 shares, compared to its average volume of 313,673. Cornerstone Total Return Fund has a 12 month low of $13.42 and a 12 month high of $16.22.
The company also recently announced a monthly dividend, which will be paid on Wednesday, October 31st. Investors of record on Monday, October 15th will be paid a $0.2301 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $2.76 annualized dividend and a dividend yield of 20.24%.
Cornerstone Total Return Fund Company Profile
Cornerstone Total Return Fund, Inc is a closed-ended equity mutual fund launched and managed by Cornerstone Advisors, Inc 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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