Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Trading Down 4.4% – Time to Sell?

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF)’s stock price dropped 4.4% during mid-day trading on Wednesday . The company traded as low as $6.95 and last traded at $6.8850. Approximately 2,038,188 shares traded hands during trading, an increase of 2% from the average daily volume of 2,006,622 shares. The stock had previously closed at $7.20.

Cornerstone Total Return Fund Price Performance

The firm has a 50 day moving average of $7.91 and a 200-day moving average of $7.93.

Cornerstone Total Return Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.1176 per share. This represents a c) annualized dividend and a dividend yield of 20.3%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its stake in 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 worth $29,000 after buying an additional 3,357 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Cornerstone Total Return Fund in the 2nd quarter valued at approximately $29,000. Anfield Capital Management LLC bought a new stake in shares of Cornerstone Total Return Fund during the 2nd quarter worth approximately $52,000. CoreCap Advisors LLC boosted its position 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 acquiring an additional 4,537 shares in the last quarter. Finally, Allworth Financial LP bought a new position in Cornerstone Total Return Fund in the second quarter valued at approximately $67,000. Institutional investors and hedge funds own 10.41% of the company’s stock.

About Cornerstone Total Return Fund

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.