Yakira Capital Management Inc. Trims Stock Position in Cornerstone Total Return Fund, Inc. $CRF

Yakira Capital Management Inc. lowered its position in shares of Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) by 50.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 798,556 shares of the investment management company’s stock after selling 797,984 shares during the period. Cornerstone Total Return Fund accounts for about 2.2% of Yakira Capital Management Inc.’s holdings, making the stock its 15th biggest position. Yakira Capital Management Inc. owned 0.68% of Cornerstone Total Return Fund worth $6,396,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CRF. Northwestern Mutual Wealth Management Co. grew its stake 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 acquiring an additional 3,357 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Cornerstone Total Return Fund during the second quarter valued at approximately $29,000. CoreCap Advisors LLC grew its stake in Cornerstone Total Return Fund by 165.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,272 shares of the investment management company’s stock valued at $58,000 after acquiring an additional 4,537 shares in the last quarter. Destination Wealth Management purchased a new position in Cornerstone Total Return Fund during the fourth quarter valued at approximately $80,000. Finally, Goldman Sachs Group Inc. purchased a new position in Cornerstone Total Return Fund during the fourth quarter valued at approximately $80,000. Hedge funds and other institutional investors own 10.41% of the company’s stock.

Cornerstone Total Return Fund Price Performance

Shares of NYSEAMERICAN:CRF opened at $7.16 on Monday. The company has a 50 day moving average of $7.21 and a 200 day moving average of $7.49. Cornerstone Total Return Fund, Inc. has a 12 month low of $6.56 and a 12 month high of $8.25.

Cornerstone Total Return Fund Announces Dividend

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

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.