Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Shares Gap Down – Time to Sell?

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $6.62, but opened at $5.95. Cornerstone Total Return Fund shares last traded at $5.87, with a volume of 931,549 shares.

Cornerstone Total Return Fund Stock Performance

The firm’s 50 day moving average price is $8.09 and its two-hundred day moving average price is $8.16.

Cornerstone Total Return Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a $0.1168 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 21.76%. The ex-dividend date of this dividend is Tuesday, April 15th.

Institutional Trading of Cornerstone Total Return Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Cornerstone Total Return Fund during the fourth quarter worth $26,000. Quarry LP acquired a new stake in Cornerstone Total Return Fund in the 3rd quarter valued at about $42,000. Mariner LLC lifted its stake in Cornerstone Total Return Fund by 8.2% in the 4th quarter. Mariner LLC now owns 15,016 shares of the investment management company’s stock valued at $130,000 after purchasing an additional 1,134 shares during the last quarter. BIP Wealth LLC bought a new position in Cornerstone Total Return Fund during the fourth quarter worth about $139,000. Finally, Virtu Financial LLC raised its stake in Cornerstone Total Return Fund by 70.3% in the third quarter. Virtu Financial LLC now owns 18,637 shares of the investment management company’s stock valued at $151,000 after buying an additional 7,696 shares during the period. Institutional investors and hedge funds 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.