Alpine Global Management LLC Reduces Stock Holdings in Cornerstone Total Return Fund, Inc. $CRF

Alpine Global Management LLC cut its stake in Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) by 64.1% during the fourth quarter, HoldingsChannel reports. The fund owned 1,211,454 shares of the investment management company’s stock after selling 2,162,763 shares during the quarter. Cornerstone Total Return Fund comprises about 1.7% of Alpine Global Management LLC’s holdings, making the stock its 9th largest position. Alpine Global Management LLC’s holdings in Cornerstone Total Return Fund were worth $9,704,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Cornerstone Total Return Fund by 902.4% in 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. acquired a new stake in shares of Cornerstone Total Return Fund in the 2nd quarter worth $29,000. CoreCap Advisors LLC grew its stake in Cornerstone Total Return Fund by 165.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,272 shares of the investment management company’s stock worth $58,000 after buying an additional 4,537 shares during the last quarter. Destination Wealth Management purchased a new position in Cornerstone Total Return Fund during the 4th quarter worth $80,000. Finally, Goldman Sachs Group Inc. acquired a new position in Cornerstone Total Return Fund during the 4th quarter valued at about $80,000. 10.41% of the stock is owned by institutional investors.

Cornerstone Total Return Fund Trading Up 0.8%

Cornerstone Total Return Fund stock opened at $7.14 on Friday. The stock has a 50-day moving average of $7.21 and a two-hundred day moving average of $7.47. Cornerstone Total Return Fund, Inc. has a one year low of $6.56 and a one year high of $8.25.

Cornerstone Total Return Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.1176 dividend. This represents a c) annualized dividend and a dividend yield of 19.8%. The ex-dividend date of this dividend is Tuesday, September 15th.

Cornerstone Total Return Fund Company 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.