Cornerstone Total Return Fund Director Morris Matthew Sells Shares

Cornerstone Total Return Fund Inc. [CRF] recently announced that Director Morris Matthew executed a transaction involving the sale of 18,272 shares at $7.87 per share on September 3, 2025, and the sale of 35,000 shares at $7.9 per share on September 4, 2025.

Cornerstone Total Return Fund Inc. (CRF) recently announced that Director Morris Matthew executed a transaction involving the sale of 18,272 shares at $7.87 per share on September 3, 2025, and the sale of 35,000 shares at $7.9 per share on September 4, 2025 [1]. The total sale amount was $420,300.

Following these transactions, Matthew Morris directly owns 11,467 shares of the company's common stock. The sales were conducted at prices of $7.87 and $7.9 per share, respectively [1]. The Form 4 filing, submitted on September 5, 2025, notes that the total share counts include shares acquired through the fund's dividend reinvestment plan since the prior Form 4 filing [1].

The substantial reduction in beneficial ownership from 46,467.9092 shares to 11,467.9092 shares is noteworthy for ownership concentration but does not provide information on related-party transactions, 10b5-1 plans, or other qualifiers [1]. The filing is complete and includes an explanation of the impact of the dividend reinvestment plan on the total holdings.

The large aggregate sale of 53,272 shares over two days could be perceived negatively by some investors, as it indicates a significant reduction in the director's stake in the company [1]. However, the filing meets Section 16 transparency requirements, and the disclosure is timely and complete.

From a market perspective, the director's sales do not provide information on holdings as a percentage of outstanding shares or any planned future transactions, limiting the assessment of market impact. The document contains specific and quantified prices and share counts, enhancing transparency [1].

References:
[1] https://www.tradingview.com/news/tradingview:ae27ab7656ce5:0-cornerstone-total-return-fund-director-sells-shares/