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

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Get Free Report)'s stock price 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 Price Performance

The stock has a fifty day simple moving average of $7.19 and a 200-day simple moving average of $7.89.

Cornerstone Total Return Fund Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.1168 dividend. This represents a yield of 19.85%. The ex-dividend date was Thursday, May 15th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. LPL Financial LLC increased its position in shares of Cornerstone Total Return Fund by 8.5% in the fourth quarter. LPL Financial LLC now owns 1,139,010 shares of the investment management company's stock valued at $9,898,000 after buying an additional 89,538 shares in the last quarter. Alpine Global Management LLC increased its position in shares of 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 valued at $23,572,000 after buying an additional 142,632 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Cornerstone Total Return Fund in the fourth quarter valued at approximately $1,470,000. Kane Investment Management Inc. purchased a new stake in shares of Cornerstone Total Return Fund in the fourth quarter valued at approximately $466,000. Finally, Bank of America Corp DE increased its position in shares of 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 valued at $2,648,000 after buying an additional 257,077 shares in the last quarter. 10.41% of the stock is owned by institutional investors and hedge funds.

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.