Short Interest in Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) Drops By 6.8%

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 7,390,000 shares, a drop of 6.8% from the December 15th total of 7,930,000 shares. Based on an average trading volume of 964,600 shares, the days-to-cover ratio is currently 7.7 days.

Hedge Funds Weigh In On Cornerstone Total Return Fund

A number of institutional investors have recently added to or reduced their stakes in the company. Sea Otter Advisors LLC purchased a new stake in shares of Cornerstone Total Return Fund during the second quarter worth about $785,000. Oppenheimer & Co. Inc. acquired a new stake in Cornerstone Total Return Fund during the 3rd quarter valued at approximately $120,000. Doliver Advisors LP purchased a new stake in Cornerstone Total Return Fund during the 3rd quarter worth approximately $328,000. Prairie Sky Financial Group LLC purchased a new stake in Cornerstone Total Return Fund during the 3rd quarter worth approximately $135,000. Finally, Chicago Partners Investment Group LLC raised its position in shares of Cornerstone Total Return Fund by 7.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 74,007 shares of the investment management company’s stock valued at $616,000 after purchasing an additional 4,835 shares in the last quarter. Institutional investors and hedge funds own 10.41% of the company’s stock.

Cornerstone Total Return Fund Stock Performance

CRF opened at $8.67 on Monday. The firm’s 50 day moving average price is $7.98. Cornerstone Total Return Fund has a 52-week low of $6.52 and a 52-week high of $9.75.

Cornerstone Total Return Fund Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 16th will be paid a dividend of $0.1168 per share. This represents a yield of 16.2%. The ex-dividend date is Wednesday, January 15th.

Cornerstone Total Return Fund Company Profile

Cornerstone Total Return Fund, Inc is a closed-ended equity mutual fund launched and managed by Cornerstone Advisors, LLC. 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.