Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.90 and traded as low as $7.54. Cornerstone Total Return Fund shares last traded at $7.57, with a volume of 580,500 shares changing hands.

Cornerstone Total Return Fund Trading Down 0.4%

The business’s 50-day moving average price is $7.16 and its 200 day moving average price is $7.90.

Cornerstone Total Return Fund Announces Dividend

The company also recently declared a dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.1168 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a dividend yield of 19.85%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRF. Tabor Asset Management LP purchased a new position in Cornerstone Total Return Fund in the first quarter worth $2,648,000. Bank of America Corp DE grew its position in Cornerstone Total Return Fund by 539.5% in the fourth 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. Raymond James Financial Inc. purchased a new position in Cornerstone Total Return Fund in the fourth quarter worth $1,470,000. Alpine Global Management LLC grew its position in Cornerstone Total Return Fund by 5.6% in the fourth quarter. Alpine Global Management LLC now owns 2,712,560 shares of the investment management company’s stock worth $23,572,000 after acquiring an additional 142,632 shares in the last quarter. Finally, TrueMark Investments LLC grew its position in Cornerstone Total Return Fund by 25.4% in the fourth quarter. TrueMark Investments LLC now owns 534,692 shares of the investment management company’s stock worth $4,646,000 after acquiring an additional 108,386 shares in the last quarter. 10.41% of the stock is currently 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.