Sit Investment Associates Inc. decreased its holdings in Cornerstone Total Return Fund Inc (NYSEAMERICAN:CRF) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,566,534 shares of the investment management company’s stock after selling 63,447 shares during the quarter. Cornerstone Total Return Fund comprises approximately 2.0% of Sit Investment Associates Inc.’s portfolio, making the stock its 4th biggest position. Sit Investment Associates Inc. owned 24.65% of Cornerstone Total Return Fund worth $61,844,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Ford Financial Group Inc. raised its holdings in Cornerstone Total Return Fund by 49.3% in the third quarter. Ford Financial Group Inc. now owns 100,928 shares of the investment management company’s stock worth $1,404,000 after purchasing an additional 33,328 shares in the last quarter. Mariner Investment Group LLC bought a new position in shares of Cornerstone Total Return Fund during the third quarter valued at $651,000. Private Advisor Group LLC bought a new position in shares of Cornerstone Total Return Fund during the third quarter valued at $286,000. ING Groep NV bought a new position in shares of Cornerstone Total Return Fund during the third quarter valued at $4,823,000. Finally, Credit Suisse AG increased its holdings in shares of Cornerstone Total Return Fund by 9.2% during the third quarter. Credit Suisse AG now owns 134,052 shares of the investment management company’s stock valued at $1,861,000 after acquiring an additional 11,252 shares in the last quarter.
Shares of NYSEAMERICAN:CRF traded down $0.33 on Monday, hitting $11.13. 1,148 shares of the company traded hands, compared to its average volume of 349,125. Cornerstone Total Return Fund Inc has a 52 week low of $9.11 and a 52 week high of $16.22.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, February 28th. Investors of record on Friday, February 15th will be issued a $0.1985 dividend. The ex-dividend date is Thursday, February 14th. This represents a $2.38 annualized dividend and a yield of 21.40%.
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About Cornerstone Total Return Fund
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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