Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.90 and traded as low as $7.47. Cornerstone Total Return Fund shares last traded at $7.50, with a volume of 1,242,069 shares changing hands.

Cornerstone Total Return Fund Stock Up 0.7%

The business’s 50 day moving average price is $7.82 and its two-hundred day moving average price is $7.90.

Cornerstone Total Return Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.1176 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 18.8%.

Hedge Funds Weigh In On Cornerstone Total Return Fund

Hedge funds have recently modified their holdings of the company. Firethorn Wealth Partners LLC raised its stake in shares of Cornerstone Total Return Fund by 4.5% in the 3rd quarter. Firethorn Wealth Partners LLC now owns 31,301 shares of the investment management company’s stock worth $252,000 after buying an additional 1,344 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Cornerstone Total Return Fund by 4.1% during the third quarter. Creative Financial Designs Inc. ADV now owns 37,999 shares of the investment management company’s stock valued at $306,000 after buying an additional 1,483 shares in the last quarter. Cetera Investment Advisers grew its holdings in Cornerstone Total Return Fund by 3.3% during the second quarter. Cetera Investment Advisers now owns 48,911 shares of the investment management company’s stock worth $379,000 after acquiring an additional 1,551 shares during the period. Fisher Asset Management LLC raised its position in Cornerstone Total Return Fund by 13.3% in the third quarter. Fisher Asset Management LLC now owns 14,168 shares of the investment management company’s stock worth $114,000 after acquiring an additional 1,660 shares in the last quarter. Finally, Mariner LLC raised its position in Cornerstone Total Return Fund by 9.2% in the fourth quarter. Mariner LLC now owns 21,351 shares of the investment management company’s stock worth $171,000 after acquiring an additional 1,794 shares in the last quarter. 10.41% of the stock is currently owned by institutional investors and hedge funds.

Cornerstone Total Return Fund Company Profile

Cornerstone Total Return Fund (NYSE American: CRF) is a diversified, closed-end management investment company that seeks to provide shareholders with a combination of current income and capital appreciation. Since its initial public offering in 1989, the fund has offered investors exposure to a broad range of fixed-income and equity-related securities, leveraging a total-return strategy. Its shares trade on the NYSE American exchange, providing daily liquidity in a closed-end format.

The fund’s principal investment approach involves allocating assets across convertible securities, high-yield corporate debt, bank loans and common equities.