Shares of Cornerstone Total Return Fund Inc. (The) (NYSE American:CRF) traded at a new 52-week high today of $14.11. Approximately 366,000 shares have changed hands today, as compared to an average 30-day volume of 491,000 shares.
The investment seeks capital appreciation with current income as a secondary objective. Under normal market conditions, the fund's portfolio consists principally of the equity securities of large, mid and small-capitalization companies. Equity securities in which the fund may invest include common and preferred stocks, convertible securities, warrants and other securities having the characteristics of common stocks, such as American Depositary Receipts ("ADRs") and International Depositary Receipts ("IDRs"). It may invest up to 10% of its assets in other closed-end investment companies.
In the past 52 weeks, Cornerstone Total Return Fund Inc. (The) share prices are bracketed by a low of $10.51 and a high of $14.11 and is now at $14.10, 34% above that low price.
Potential upside of 119.9% exists for Cornerstone Total Return Fund Inc. (The), based on a current level of $14.10 and analysts' average consensus price target of $31.00.
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