Cornerstone Total Return Fund (NYSEAMERICAN:CRF) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Cornerstone Total Return Fund, Inc. (NYSEAMERICAN:CRF)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.93 and traded as low as $7.49. Cornerstone Total Return Fund shares last traded at $7.60, with a volume of 4,961,651 shares.

Cornerstone Total Return Fund Stock Performance

The business’s 50-day moving average is $7.93 and its two-hundred day moving average is $7.93.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sculptor Capital LP acquired a new stake in Cornerstone Total Return Fund in the second quarter worth $18,931,000. Quarry LP grew its position in shares of Cornerstone Total Return Fund by 380.0% during the fourth quarter. Quarry LP now owns 1,260,432 shares of the investment management company’s stock worth $10,096,000 after acquiring an additional 997,836 shares during the last quarter. Alpine Global Management LLC increased its holdings in shares of Cornerstone Total Return Fund by 17.2% in the 3rd quarter. Alpine Global Management LLC now owns 3,374,217 shares of the investment management company’s stock worth $27,129,000 after acquiring an additional 496,105 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cornerstone Total Return Fund by 13,390.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 312,716 shares of the investment management company’s stock worth $2,505,000 after acquiring an additional 310,398 shares during the period. Finally, Kovack Advisors Inc. bought a new stake in Cornerstone Total Return Fund in the 4th quarter valued at about $2,163,000. Institutional investors and hedge funds own 10.41% of the company’s stock.

Cornerstone Total Return Fund Company Profile

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.