Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Stock Price Passes Above 50-Day Moving Average - Here's Why

Key Points

• Cornerstone Total Return Fund shares surpassed their 50-day moving average of $7.85, trading at $7.99 with a peak of $8.02 during the session.
• The fund recently declared a monthly dividend of $0.1168 per share, providing an annualized yield of 17.5% for investors on record by December 15th.
• Insider selling included Director Matthew Morris offloading 35,000 shares, representing a 75.32% decrease in his holdings of the stock.

Shares of Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - ) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $7.85 and traded as high as $8.02. Cornerstone Total Return Fund shares last traded at $7.99, with a volume of 610,567 shares.

Cornerstone Total Return Fund Stock Up 0.1%

The company has a 50 day moving average of $7.85 and a two-hundred day moving average of $7.46.

Cornerstone Total Return Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.1168 per share. This represents a c) dividend on an annualized basis and a yield of 17.5%. The ex-dividend date of this dividend is Monday, December 15th.

Insider Transactions at Cornerstone Total Return Fund

In other Cornerstone Total Return Fund news, Director Matthew Morris sold 35,000 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $7.90, for a total transaction of $276,500.00. Following the completion of the transaction, the director owned 11,468 shares of the company's stock, valued at approximately $90,597.20. This trade represents a 75.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 53,273 shares of company stock worth $420,309. Company insiders own 14.50% of the company's stock.

Institutional Investors Weigh In On Cornerstone Total Return Fund

Several hedge funds have recently added to or reduced their stakes in the stock. Red Tortoise LLC purchased a new position in shares of Cornerstone Total Return Fund in the 2nd quarter worth about $25,000. Northwestern Mutual Wealth Management Co. increased its stake in Cornerstone Total Return Fund by 902.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,729 shares of the investment management company's stock valued at $29,000 after purchasing an additional 3,357 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Cornerstone Total Return Fund during the second quarter valued at approximately $29,000. Anfield Capital Management LLC purchased a new stake in shares of Cornerstone Total Return Fund during the second quarter valued at approximately $52,000. Finally, Allworth Financial LP purchased a new stake in shares of Cornerstone Total Return Fund during the second quarter valued at approximately $67,000. 10.41% of the stock is owned by institutional investors.

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.

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