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

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $6.72, but opened at $6.48. Cornerstone Total Return Fund shares last traded at $6.36, with a volume of 405,095 shares changing hands.

Cornerstone Total Return Fund Price Performance

The company has a 50-day simple moving average of $7.40 and a 200 day simple moving average of $8.03.

Cornerstone Total Return Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a dividend of $0.1168 per share. This represents a $1.40 dividend on an annualized basis and a yield of 20.89%. The ex-dividend date of this dividend is Tuesday, April 15th.

Hedge Funds Weigh In On Cornerstone Total Return Fund

Large investors have recently bought and sold shares of the business. Mallini Complete Financial Planning LLC increased its position in shares of Cornerstone Total Return Fund by 43.1% in the first quarter. Mallini Complete Financial Planning LLC now owns 56,604 shares of the investment management company's stock valued at $406,000 after buying an additional 17,055 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Cornerstone Total Return Fund by 9.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 22,185 shares of the investment management company's stock valued at $159,000 after acquiring an additional 2,000 shares during the period. Valmark Advisers Inc. purchased a new stake in Cornerstone Total Return Fund in the 1st quarter worth $86,000. Ameriflex Group Inc. acquired a new position in Cornerstone Total Return Fund during the fourth quarter worth $459,000. Finally, Bank of America Corp DE lifted its holdings in Cornerstone Total Return Fund by 539.5% during 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 purchasing an additional 257,077 shares in the last quarter. Institutional investors and hedge funds own 10.41% of the company's stock.

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.