Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $7.98 and traded as high as $9.00. Cornerstone Total Return Fund shares last traded at $8.88, with a volume of 619,656 shares traded.

Cornerstone Total Return Fund Trading Up 0.2 %

The firm has a 50 day moving average price of $7.98.

Cornerstone Total Return Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.1168 per share. This represents a $1.40 annualized dividend and a dividend yield of 15.75%. The ex-dividend date of this dividend is Wednesday, January 15th.

Institutional Trading of Cornerstone Total Return Fund

Several large investors have recently added to or reduced their stakes in the stock. Sea Otter Advisors LLC acquired a new position in shares of Cornerstone Total Return Fund during the 2nd quarter valued at about $785,000. Doliver Advisors LP acquired a new position in Cornerstone Total Return Fund in the 3rd quarter valued at about $328,000. PFG Investments LLC grew its stake in shares of Cornerstone Total Return Fund by 17.5% in the 2nd quarter. PFG Investments LLC now owns 136,769 shares of the investment management company’s stock valued at $1,074,000 after buying an additional 20,324 shares during the period. Prairie Sky Financial Group LLC acquired a new stake in shares of Cornerstone Total Return Fund during the 3rd quarter worth approximately $135,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Cornerstone Total Return Fund during the 3rd quarter valued at approximately $120,000. 10.41% of the stock is currently owned by hedge funds and other institutional investors.

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.