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

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $8.88, but opened at $8.10. Cornerstone Total Return Fund shares last traded at $8.13, with a volume of 1,781,271 shares changing hands.

Cornerstone Total Return Fund Stock Performance

The stock has a 50 day moving average price of $8.07.

Cornerstone Total Return Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.1168 dividend. This represents a $1.40 annualized dividend and a yield of 18.11%. The ex-dividend date of this dividend is Monday, June 16th.

Institutional Investors Weigh In On Cornerstone Total Return Fund

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its stake 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 during the period. Raymond James Financial Inc. acquired a new position in shares of Cornerstone Total Return Fund during the fourth quarter worth $1,470,000. Alpine Global Management LLC lifted its holdings in shares of Cornerstone Total Return Fund by 5.6% during the fourth quarter. Alpine Global Management LLC now owns 2,712,560 shares of the investment management company's stock worth $23,572,000 after purchasing an additional 142,632 shares during the period. Winebrenner Capital Management LLC acquired a new position in shares of Cornerstone Total Return Fund during the fourth quarter worth $956,000. Finally, TrueMark Investments LLC lifted its holdings in shares of Cornerstone Total Return Fund by 25.4% during the fourth quarter. TrueMark Investments LLC now owns 534,692 shares of the investment management company's stock worth $4,646,000 after purchasing an additional 108,386 shares during the period. Institutional investors and hedge funds own 10.41% of the company's stock.

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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.