Sit Investment Associates Inc. Sells 1,374,043 Shares of Cornerstone Total Return Fund, Inc. $CRF

Sit Investment Associates Inc. cut its holdings in Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,090,707 shares of the investment management company’s stock after selling 1,374,043 shares during the period. Cornerstone Total Return Fund accounts for 1.6% of Sit Investment Associates Inc.’s portfolio, making the stock its 11th largest holding. Sit Investment Associates Inc. owned 8.62% of Cornerstone Total Return Fund worth $80,827,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Cornerstone Total Return Fund during the 1st quarter valued at $448,000. Cetera Investment Advisers raised its holdings in Cornerstone Total Return Fund by 3.3% in the 2nd quarter. Cetera Investment Advisers now owns 48,911 shares of the investment management company’s stock worth $379,000 after purchasing an additional 1,551 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Cornerstone Total Return Fund by 902.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,729 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 3,357 shares in the last quarter. Raymond James Financial Inc. lifted its position in Cornerstone Total Return Fund by 41.7% during the second quarter. Raymond James Financial Inc. now owns 399,919 shares of the investment management company’s stock valued at $3,099,000 after purchasing an additional 117,775 shares in the last quarter. Finally, Sculptor Capital LP bought a new stake in Cornerstone Total Return Fund during the second quarter valued at about $18,931,000. Hedge funds and other institutional investors own 10.41% of the company’s stock.

Cornerstone Total Return Fund Stock Performance

Shares of CRF opened at $7.18 on Friday. The business has a 50-day simple moving average of $7.21 and a two-hundred day simple moving average of $7.50. Cornerstone Total Return Fund, Inc. has a 52 week low of $6.56 and a 52 week high of $8.25.

Cornerstone Total Return Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.1176 dividend. This represents a c) annualized dividend and a yield of 19.7%. The ex-dividend date of this dividend is Tuesday, September 15th.

Cornerstone Total Return Fund Profile

Cornerstone Total Return Fund (NYSE American: CRF) is a diversified, closed-end management investment company that seeks to provide shareholders with a combination of current income and capital appreciation. Since its initial public offering in 1989, the fund has offered investors exposure to a broad range of fixed-income and equity-related securities, leveraging a total-return strategy. Its shares trade on the NYSE American exchange, providing daily liquidity in a closed-end format.

The fund’s principal investment approach involves allocating assets across convertible securities, high-yield corporate debt, bank loans and common equities.