Independent Advisor Alliance Buys Shares of 21,659 Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF)

Independent Advisor Alliance purchased a new position in Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 21,659 shares of the investment management company’s stock, valued at approximately $188,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quarry LP bought a new position in Cornerstone Total Return Fund in the third quarter worth about $42,000. Oppenheimer & Co. Inc. bought a new position in shares of Cornerstone Total Return Fund during the 3rd quarter worth approximately $120,000. Virtu Financial LLC lifted its position in Cornerstone Total Return Fund by 70.3% during the third quarter. Virtu Financial LLC now owns 18,637 shares of the investment management company’s stock valued at $151,000 after acquiring an additional 7,696 shares during the last quarter. Wealth Management Nebraska acquired a new stake in Cornerstone Total Return Fund in the fourth quarter valued at approximately $164,000. Finally, Grimes & Company Inc. grew its holdings in Cornerstone Total Return Fund by 4.9% in the fourth quarter. Grimes & Company Inc. now owns 25,556 shares of the investment management company’s stock worth $222,000 after purchasing an additional 1,193 shares during the last quarter. 10.41% of the stock is currently owned by institutional investors.

Cornerstone Total Return Fund Stock Performance

Shares of Cornerstone Total Return Fund stock opened at $7.35 on Friday. Cornerstone Total Return Fund, Inc. has a 12-month low of $6.52 and a 12-month high of $9.75. The firm’s 50 day simple moving average is $8.39 and its two-hundred day simple moving average is $8.22.

Cornerstone Total Return Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a $0.1168 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.40 dividend on an annualized basis and a yield of 19.07%.

About Cornerstone Total Return Fund

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.