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| c/o Bear Stearns Fund Management, 383 Madison Avenue, 23rd Floor, New York, NY, 10179, US | ||||||
| Last Sale | Net Change | % Change | Volume | Last Updated | ||
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| $9.21 | 0.01 | 0.11 | 68,802 | 11/20/09 3:59 PM ET | ||
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| Security Type | Closed End Fund | Specialist | 074 | |
| Industry | Closed End Funds | Trading Post | 1 | |
| Primary Exchange | NYSE Amex | SEC Filings | ||
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| Description |
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Cornerstone Progressive Return Fund is a diversified, closed-end management investment company whose investment objective is to provide long-term total return. The fund will pursue its investment objective by investing primarily all of its assets in equity securities of U.S. issuers, non-U.S. issuers whose securities trade on a U.S. securities exchange or over the counter or as American Depositary Receipts (ADRs) or other forms of depositary receipts, such as International Depositary Receipts (IDRs), which trade in the U.S., closed-end investment companies and exchange-traded funds (ETFs). The fund will pursue current income, as a component of total return, by investing in dividend-paying equity securities and U.S. dollar-denominated debt securities. The fund intends its investment portfolio, under normal market conditions, to consist 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 ADRs and IDRs, closed-end investment companies and ETFs. The fund may, however, invest a portion of its assets in U.S. dollar-denominated debt securities when fund management believes that it is appropriate to do so to earn current income, for example, when interest rates are high in comparison to anticipated returns on equity investments. Debt securities in which the fund may invest include U.S. dollar-denominated bank, corporate or government bonds, notes, and debentures of any maturity and duration determined by fund management to be suitable for investment by the fund. The fund may not invest in debt securities that are rated below BBB by S&P or Baa by Moody's at the time the investment is made. Direct investments in emerging market securities are not expected to exceed 5% of the fund's net assets, although through its investments in ETFs, other investment companies or depository receipts that invest in emerging market securities, up to 20% of the fund's assets may be invested indirectly in issuers located in emerging markets. The fund intends to qualify as a regulated investment company under the Internal Revenue Code. |
| Quote |
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| Last Sale | $9.21 (11/20/09) | |||
| Net Change | 0.01 | |||
| % Change | 0.11 | |||
| Previous Close | $9.20 | |||
| Today’s Open | $9.20 | |||
| Today’s High | $9.22 | |||
| Today’s Low | $9.17 | |||
| Volume | 68,802 | |||
| 52 Week High | $12.05 | |||
| 52 Week Low | $6.28 | |||
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| Chart |
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| Fundamentals |
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| P/E ratio | N.A. | Short Interest | 300,962 | |
| Earnings Per Share | N.A. | Current yield | 26.74 | |
| Shares Outstanding | 9,337,000 | Dividend Info | ||
| Market Cap | 85,993,770 | |||
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