Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Shares Gap Down – Here’s What Happened

Shares of Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) gapped down before the market opened on Monday . The stock had previously closed at $8.88, but opened at $8.10. Cornerstone Total Return Fund shares last traded at $8.13, with a volume of 1,781,271 shares traded.

Cornerstone Total Return Fund Stock Up 0.7 %

The business’s 50-day simple moving average is $8.06.

Cornerstone Total Return Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.1168 per share. This represents a $1.40 dividend on an annualized basis and a yield of 17.04%. The ex-dividend date is Monday, June 16th.

Institutional Investors Weigh In On Cornerstone Total Return Fund

Large investors have recently added to or reduced their stakes in the business. Ameriflex Group Inc. purchased a new stake in shares of Cornerstone Total Return Fund during the 4th quarter worth $459,000. Bank of America Corp DE boosted its position in shares of Cornerstone Total Return Fund by 539.5% during the 4th quarter. Bank of America Corp DE now owns 304,728 shares of the investment management company’s stock worth $2,648,000 after acquiring an additional 257,077 shares in the last quarter. BIP Wealth LLC purchased a new position in shares of Cornerstone Total Return Fund in the 4th quarter valued at about $139,000. Aptus Capital Advisors LLC acquired a new stake in shares of Cornerstone Total Return Fund during the 4th quarter worth about $200,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Cornerstone Total Return Fund during the fourth quarter worth approximately $26,000. 10.41% of the stock is owned by hedge funds and other institutional investors.

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.