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

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.94 and traded as low as $7.65. Cornerstone Total Return Fund shares last traded at $7.68, with a volume of 1,581,799 shares trading hands.

Cornerstone Total Return Fund Stock Down 0.9%

The firm has a 50 day moving average of $7.97 and a 200-day moving average of $7.94.

Hedge Funds Weigh In On Cornerstone Total Return Fund

Several institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its position in shares of Cornerstone Total Return Fund by 902.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,729 shares of the investment management company’s stock valued at $29,000 after buying an additional 3,357 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Cornerstone Total Return Fund in the 2nd quarter valued at $29,000. Anfield Capital Management LLC acquired a new position in shares of Cornerstone Total Return Fund in the 2nd quarter valued at about $52,000. CoreCap Advisors LLC grew its stake in shares of Cornerstone Total Return Fund by 165.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,272 shares of the investment management company’s stock worth $58,000 after purchasing an additional 4,537 shares during the period. Finally, Allworth Financial LP acquired a new position in shares of Cornerstone Total Return Fund in the second quarter worth about $67,000. 10.41% of the stock is owned by hedge funds and other institutional investors.

Cornerstone Total Return Fund Company Profile

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.