Cornerstone Funds Return To Reality

With the tumultuous events of the past few weeks, Cornerstone Total Return Fund (CRF) and Cornerstone Strategic Value Funds (CLM) have finally dropped to market prices that are more in line with their net asset values. As of this writing, CRF sported a NAV of $5.90 and a share price of $5.71 while CLM has a NAV of $3.24 and a price of $3.20.

Despite these small discounts to underlying value, I would not recommend purchase of these shares. Hopefully short positions in these stocks have been profitable for you at an especially opportunistic time.