Cornerstone Total Return Fund Inc (CRF) Sees Large Decline in Short Interest

Cornerstone Total Return Fund Inc (NYSEAMERICAN:CRF) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 24,541 shares, a decline of 82.2% from the January 15th total of 137,629 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 185,996 shares, the short-interest ratio is presently 0.1 days.

Cornerstone Total Return Fund stock opened at $11.98 on Tuesday. Cornerstone Total Return Fund has a 1-year low of $9.11 and a 1-year high of $15.97.

The company also recently declared a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.1985 dividend. This represents a $2.38 annualized dividend and a yield of 19.88%. The ex-dividend date is Thursday, June 13th.

A number of large investors have recently made changes to their positions in CRF. Ford Financial Group Inc. boosted its holdings in Cornerstone Total Return Fund by 49.3% in the 3rd quarter. Ford Financial Group Inc. now owns 100,928 shares of the investment management company’s stock valued at $1,404,000 after purchasing an additional 33,328 shares during the period. Mariner Investment Group LLC bought a new position in Cornerstone Total Return Fund in the 3rd quarter valued at $651,000. Private Advisor Group LLC bought a new position in Cornerstone Total Return Fund in the 3rd quarter valued at $286,000. ING Groep NV bought a new position in Cornerstone Total Return Fund in the 3rd quarter valued at $4,823,000. Finally, Credit Suisse AG boosted its holdings in Cornerstone Total Return Fund by 9.2% in the 3rd quarter. Credit Suisse AG now owns 134,052 shares of the investment management company’s stock valued at $1,861,000 after purchasing an additional 11,252 shares during the period.

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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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