Yakira Capital Management Inc. Sells 395,312 Shares of Cornerstone Total Return Fund, Inc. $CRF

Yakira Capital Management Inc. reduced its holdings in shares of Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) by 19.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,596,540 shares of the investment management company’s stock after selling 395,312 shares during the period. Cornerstone Total Return Fund accounts for approximately 4.5% of Yakira Capital Management Inc.’s investment portfolio, making the stock its 2nd largest holding. Yakira Capital Management Inc.’s holdings in Cornerstone Total Return Fund were worth $12,836,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its position in shares of Cornerstone Total Return Fund by 50.9% in the second quarter. Osaic Holdings Inc. now owns 274,499 shares of the investment management company’s stock valued at $2,127,000 after purchasing an additional 92,541 shares during the last quarter. Anfield Capital Management LLC purchased a new position in shares of Cornerstone Total Return Fund during the 2nd quarter worth approximately $52,000. Allworth Financial LP acquired a new position in shares of Cornerstone Total Return Fund during the 2nd quarter worth approximately $67,000. Perennial Investment Advisors LLC lifted its stake in Cornerstone Total Return Fund by 12.6% in the 2nd quarter. Perennial Investment Advisors LLC now owns 457,215 shares of the investment management company’s stock valued at $3,543,000 after buying an additional 51,075 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in Cornerstone Total Return Fund during the 2nd quarter valued at $106,000. Institutional investors and hedge funds own 10.41% of the company’s stock.

Cornerstone Total Return Fund Price Performance

Cornerstone Total Return Fund stock opened at $7.22 on Monday. Cornerstone Total Return Fund, Inc. has a fifty-two week low of $5.81 and a fifty-two week high of $8.25. The stock has a fifty day moving average of $7.73 and a two-hundred day moving average of $7.88.

Cornerstone Total Return Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.1176 per share. This represents a c) annualized dividend and a dividend yield of 19.5%. The ex-dividend date of this dividend is Monday, June 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.