Citigroup Inc. Acquires New Stake in Cornerstone Total Return Fund Inc (CRF)
Citigroup Inc. acquired a new position in shares of Cornerstone Total Return Fund Inc (NYSEMKT:CRF) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,300 shares of the investment management company’s stock, valued at approximately $793,000.
Separately, Private Advisor Group LLC bought a new stake in Cornerstone Total Return Fund during the second quarter worth about $185,000.
Cornerstone Total Return Fund Inc (NYSEMKT CRF) opened at 15.01 on Monday. The stock has a 50 day moving average of $14.39 and a 200-day moving average of $15.43. Cornerstone Total Return Fund Inc 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 Tuesday, October 31st. Investors of record on Friday, October 13th will be given a $0.2289 dividend. The ex-dividend date is Thursday, October 12th. This represents a $2.75 dividend on an annualized basis and a yield of 18.30%.
About Cornerstone Total Return Fund
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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