Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) crossed 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 trading hands.

Cornerstone Total Return Fund Price Performance

The company’s 50-day simple moving average is $7.98.

Cornerstone Total Return Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.1168 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 15.78%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PFG Investments LLC lifted its holdings in Cornerstone Total Return Fund by 17.5% during the 2nd quarter. PFG Investments LLC now owns 136,769 shares of the investment management company’s stock worth $1,074,000 after purchasing an additional 20,324 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in Cornerstone Total Return Fund during the 2nd quarter worth about $106,000. Main Street Financial Solutions LLC lifted its holdings in Cornerstone Total Return Fund by 46.4% during the 2nd quarter. Main Street Financial Solutions LLC now owns 43,247 shares of the investment management company’s stock worth $339,000 after purchasing an additional 13,702 shares in the last quarter. Perennial Investment Advisors LLC lifted its holdings in Cornerstone Total Return Fund by 3.6% during the 2nd quarter. Perennial Investment Advisors LLC now owns 380,195 shares of the investment management company’s stock worth $2,985,000 after purchasing an additional 13,186 shares in the last quarter. Finally, Sea Otter Advisors LLC purchased a new stake in Cornerstone Total Return Fund during the 2nd quarter worth about $785,000. Hedge funds and other institutional investors own 10.41% of the company’s stock.

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.