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Video: What is a Stock Split?

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Cornerstone Progressive Return is a diversified, closed-end management investment company. The Fund's 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 United States, closed-end investment companies and exchange-traded funds. As of Dec. 31, 2012, Co.'s portfolio totaled $115,126,006 and its assets totaled $119,928,635. According to our CFP split history records, Cornerstone Progressive Return Fund has had 1 split.
CFP split history picture
Cornerstone Progressive Return Fund (CFP) has 1 split in our CFP split history database. The split for CFP took place on December 29, 2014. This was a 1 for 4 reverse split, meaning for each 4 shares of CFP owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 250 share position following the split.

When a company such as Cornerstone Progressive Return Fund conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the CFP split history from start to finish, an original position size of 1000 shares would have turned into 250 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Cornerstone Progressive Return Fund shares, starting with a $10,000 purchase of CFP, presented on a split-history-adjusted basis factoring in the complete CFP split history. CFP split adjusted history picture

Growth of $10,000.00
With Dividends Reinvested

Start date: 08/09/2010
End date: 06/26/2015
Start price/share: $28.68
End price/share: $16.83
Starting shares: 348.68
Ending shares: 877.03
Dividends reinvested/share: $20.86
Total return: 47.60%
Average Annual Total Return: 8.30%
Starting investment: $10,000.00
Ending investment: $14,759.20
Years: 4.88
Growth of $10,000.00
Without Dividends Reinvested

Start date: 08/09/2010
End date: 06/26/2015
Start price/share: $28.68
End price/share: $16.83
Dividends collected/share: $20.86
Total return: 31.43%
Average Annual Total Return: 5.76%
Starting investment: $10,000.00
Ending investment: $13,144.44
Years: 4.88
Date Ratio
12/29/20141 for 4
CFP is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:

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