Company: EQS
Filing Date: 2025-05-12
Form Type: CORRESP
Source: 0001712543-25-000030
Chunk: 3

Company: EQUUS TOTAL RETURN, INC.
Filing Date: 2025-05-12
Form: CORRESP
Chunk 3
---
, please clarify in the disclosure if the Fund’s Board of Directors has the discretion to abandon the reverse stock split, even it is approved by stockholders.

RESPONSE: This clarification has been included.

700 LOUISIANA STREET

41 STFLOOR

HOUSTON, TX 77002

TEL: (713) 529-0900

FAX: (713) 529-9545

Ms. Soo Im-Tang

Division of Investment Management

U.S. Securities and Exchange Commission

May 12, 2025

Page 5 of 5

COMMENT 16:

On the sample proxy card included with the Pre14A, please bold the statement that reads “To withhold authority to vote for any individual nominee(s), mark ‘For All Except’ and write the number(s) of the nominee(s) on the line below”.

RESPONSE: This change has been implemented.

<div align='center'>* * * *</div>

We will file this letter as correspondence via EDGAR
contemporaneous with its dispatch to you via email. In the meantime, please feel free to call me at 801 816 2511 or respond via email
to kdenos@equuscap.com if you have any further comments or questions.

Sincerely,

Kenneth I. Denos

Secretary and Chief Compliance Officer

Equus Total Return, Inc.

700 LOUISIANA STREET

41 STFLOOR

HOUSTON, TX 77002

TEL: (713) 529-0900

FAX: (713) 529-9545