Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Shares of Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $7.98 and traded as high as $9.00. Cornerstone Total Return Fund shares last traded at $8.88, with a volume of 619,656 shares changing hands.

Cornerstone Total Return Fund Price Performance

The stock’s 50-day moving average price is $7.98.

Cornerstone Total Return Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.1168 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.40 annualized dividend and a dividend yield of 15.75%.

Hedge Funds Weigh In On Cornerstone Total Return Fund

Several large investors have recently bought and sold shares of the business. Sea Otter Advisors LLC purchased a new stake in shares of Cornerstone Total Return Fund during the 2nd quarter worth approximately $785,000. Oppenheimer & Co. Inc. acquired a new stake in Cornerstone Total Return Fund during the 3rd quarter worth $120,000. Perennial Investment Advisors LLC lifted its position in Cornerstone Total Return Fund by 3.6% in the second quarter. Perennial Investment Advisors LLC now owns 380,195 shares of the investment management company’s stock valued at $2,985,000 after acquiring an additional 13,186 shares during the last quarter. Doliver Advisors LP acquired a new position in Cornerstone Total Return Fund in the third quarter valued at $328,000. Finally, Prairie Sky Financial Group LLC purchased a new position in shares of Cornerstone Total Return Fund during the third quarter worth about $135,000. Hedge funds and other institutional investors own 10.41% of the company’s stock.

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.