Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Sees Large Volume Increase

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) saw strong trading volume on Monday . 1,482,844 shares changed hands during trading, an increase of 124% from the previous session’s volume of 660,993 shares.The stock last traded at $7.28 and had previously closed at $7.58.

Cornerstone Total Return Fund Stock Performance

The stock’s 50-day moving average is $7.18.

Cornerstone Total Return Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.1037 dividend. This represents a $1.24 annualized dividend and a yield of 17.38%. The ex-dividend date is Friday, June 14th.

Hedge Funds Weigh In On Cornerstone Total Return Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in Cornerstone Total Return Fund by 30.1% in the fourth quarter. Bank of America Corp DE now owns 1,002,192 shares of the investment management company’s stock valued at $7,116,000 after acquiring an additional 232,126 shares in the last quarter. Cable Car Capital LLC acquired a new position in Cornerstone Total Return Fund in the fourth quarter worth about $4,672,000. LPL Financial LLC increased its holdings in Cornerstone Total Return Fund by 81.8% in the second quarter. LPL Financial LLC now owns 499,460 shares of the investment management company’s stock valued at $4,160,000 after buying an additional 224,765 shares during the last quarter. Royal Bank of Canada raised its stake in Cornerstone Total Return Fund by 29.8% during the third quarter. Royal Bank of Canada now owns 488,425 shares of the investment management company’s stock valued at $3,967,000 after buying an additional 112,002 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in Cornerstone Total Return Fund during the 2nd quarter worth approximately $2,553,000. 10.41% of the stock is owned by hedge funds and other institutional investors.

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.