Cornerstone Total Return Fund Inc. [NYSE: CRF] traded at a low. The company report on April 7, 2021 that Cornerstone Total Return Fund, Inc. Announces Rights Offering.
Cornerstone Total Return Fund, Inc. (NYSE American: CRF) (the “Fund”) announced that, contingent upon final approval from the U.S. Securities and Exchange Commission, it has fixed the close of business on April 16, 2021 as the record date (the “Record Date”) for determination of stockholders entitled to participate in the Fund’s 1-for-3 rights offering. The Fund is issuing to its stockholders non-transferable rights entitling the holders to subscribe for an aggregate of 13,751,029 shares of common stock. Each stockholder will receive one non-transferable right for each share of the Fund held as of the Record Date. Fractional Shares will not be issued upon the exercise of the Rights. Accordingly, the number of Rights to be issued to a Stockholder on the Record Date will be rounded up to the nearest whole number of Rights evenly divisible by three. For every three rights a stockholder receives, he or she will be entitled (but not required) to purchase one new share of the Fund at a subscription price equal to the greater of (i) 107% of net asset value per share as calculated at the close of trading on the expiration date of the offering or (ii) 80% of the market price per share at such time. Fractional shares will not be issued. In addition to the shares offered in the primary subscription, the Fund may offer a 100% over-allotment to oversubscribing stockholders. Stockholders who fully subscribe in the primary offering will have the option to oversubscribe for additional shares, to the extent available.
The subscription period will commence shortly after the Record Date, and will expire at 5:00 p.m., EDT, on Friday, May 14, 2021, (the “Expiration Date”) unless extended. The actual subscription price per share will be determined on the Expiration Date.
The results of the trading session contributed to over 3410868 shares changing hands. Over the past one week, the price volatility of Cornerstone Total Return Fund Inc. stands at 3.47% while the volatility over the past one month is 1.88%.
The market cap for CRF stock reached $520.02 million, with 41.04 million shares outstanding. Compared to the average trading volume of 548.50K shares, CRF reached a trading volume of 3410868 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Cornerstone Total Return Fund Inc. [CRF]?
The Average True Range (ATR) for Cornerstone Total Return Fund Inc. is set at 0.33, with the Price to Sales ratio for CRF stock in the period of the last 12 months amounting to 85.32. The Price to Book ratio for the last quarter was 1.33.
How has CRF stock performed recently?
Cornerstone Total Return Fund Inc. [CRF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.91. With this latest performance, CRF shares dropped by -0.39% in over the last four-week period, additionally plugging by 13.23% over the last 6 months – not to mention a rise of 46.30% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRF stock in for the last two-week period is set at 38.22, with the RSI for the last a single of trading hit 30.67, and the three-weeks RSI is set at 43.37 for Cornerstone Total Return Fund Inc. [CRF]. The present Moving Average for the last 50 days of trading for this stock 13.00, while it was recorded at 13.30 for the last single week of trading, and 11.52 for the last 200 days.
Cornerstone Total Return Fund Inc. [CRF]: Deeper insight into the fundamentals
Insider trade positions for Cornerstone Total Return Fund Inc. [CRF]
16 institutional holders increased their position in Cornerstone Total Return Fund Inc. [NYSE:CRF] by around 110,186 shares. Additionally, 11 investors decreased positions by around 301,064 shares, while 8 investors held positions by with 1,001,209 shares. The mentioned changes placed institutional holdings at 1,412,459 shares, according to the latest SEC report filing. CRF stock had 9 new institutional investments in for a total of 62,818 shares, while 2 institutional investors sold positions of 12,151 shares during the same period.