Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Shares Cross Above 50-Day Moving Average – Time to Sell?

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 changing hands.

Cornerstone Total Return Fund Price Performance

The firm’s fifty day moving average price is $7.98.

Cornerstone Total Return Fund Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $0.1168 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.40 annualized dividend and a dividend yield of 15.78%.

Institutional Trading of Cornerstone Total Return Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in shares of Cornerstone Total Return Fund during the 3rd quarter valued at about $42,000. Wedbush Securities Inc. bought a new position in shares of Cornerstone Total Return Fund during the 2nd quarter valued at about $106,000. Oppenheimer & Co. Inc. bought a new position in shares of Cornerstone Total Return Fund during the 3rd quarter valued at about $120,000. Prairie Sky Financial Group LLC bought a new position in shares of Cornerstone Total Return Fund during the 3rd quarter valued at about $135,000. Finally, Virtu Financial LLC increased its position in shares of Cornerstone Total Return Fund by 70.3% during the 3rd quarter. Virtu Financial LLC now owns 18,637 shares of the investment management company’s stock valued at $151,000 after purchasing an additional 7,696 shares during the last quarter. Hedge funds and other institutional investors own 10.41% of the company’s stock.

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.