Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.93 and traded as low as $7.91. Cornerstone Total Return Fund shares last traded at $7.91, with a volume of 2,266,074 shares trading hands.

Cornerstone Total Return Fund Trading Down 1.2%

The business has a fifty day moving average price of $7.96 and a two-hundred day moving average price of $7.93.

Cornerstone Total Return Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.1176 per share. The ex-dividend date is Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 17.8%.

Hedge Funds Weigh In On Cornerstone Total Return Fund

A number of hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new stake in Cornerstone Total Return Fund in the first quarter valued at approximately $448,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Cornerstone Total Return Fund in the 2nd quarter valued at $88,000. Absolute Investment Advisers LLC acquired a new position in Cornerstone Total Return Fund during the 2nd quarter worth about $9,881,000. PFG Investments LLC lifted its stake in Cornerstone Total Return Fund by 33.3% during the 2nd quarter. PFG Investments LLC now owns 179,492 shares of the investment management company’s stock worth $1,391,000 after acquiring an additional 44,811 shares in the last quarter. Finally, Firethorn Wealth Partners LLC boosted its holdings in Cornerstone Total Return Fund by 4.9% during the 2nd quarter. Firethorn Wealth Partners LLC now owns 29,957 shares of the investment management company’s stock valued at $232,000 after acquiring an additional 1,397 shares during the period. Hedge funds and other institutional investors own 10.41% of the company’s stock.

About Cornerstone Total Return Fund

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.