Key Points
- Vice Chairman Joshua Bradshaw purchased 16,000 CLM shares at an average price of $6.08, investing $97,280 and increasing his direct ownership by 367.31% to 20,356 shares.
- CLM shares opened at $6.23, near their 52-week low of $6.07 and below the 50-day and 200-day moving averages of $6.56 and $7.17, respectively.
- The fund declared a monthly dividend of $0.1215 per share, equivalent to an annualized $1.46 and a 23.4% yield.
Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Get Free Report) Vice Chairman Joshua Bradshaw acquired 16,000 shares of the stock in a transaction dated Tuesday, October 20th. The shares were purchased at an average price of $6.08 per share, for a total transaction of $97,280.00. Following the completion of the purchase, the insider directly owned 20,356 shares in the company, valued at $123,764.48. The trade was a 367.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Cornerstone Strategic Investment Fund Stock Up 1.0%
Shares of CLM stock opened at $6.23 on Thursday. The firm's 50-day moving average is $6.56 and its 200-day moving average is $7.17. Cornerstone Strategic Investment Fund, Inc. has a 52-week low of $6.07 and a 52-week high of $8.53.
Cornerstone Strategic Investment Fund Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a dividend of $0.1215 per share. The ex-dividend date is Tuesday, December 15th. This represents a $1.46 dividend on an annualized basis and a yield of 23.4%.
Hedge Funds Weigh In On Cornerstone Strategic Investment Fund
Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in Cornerstone Strategic Investment Fund by 100.3% in the third quarter. Farther Finance Advisors LLC now owns 5,379 shares of the investment management company's stock valued at $34,000 after buying an additional 2,693 shares during the period. Compass Financial Management LLC acquired a new stake in shares of Cornerstone Strategic Investment Fund in the second quarter valued at approximately $52,000. Highland Investment Advisors LLC bought a new position in shares of Cornerstone Strategic Investment Fund during the 2nd quarter worth approximately $62,000. Everett Harris & Co. CA bought a new position in shares of Cornerstone Strategic Investment Fund during the 2nd quarter worth approximately $77,000. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Cornerstone Strategic Investment Fund during the 2nd quarter worth approximately $81,000.
About Cornerstone Strategic Investment Fund
(
Get Free Report)
Cornerstone Strategic Investment Fund, Inc is a publicly traded closed-end management investment company listed on the NYSE American under the symbol CLM. The fund seeks to provide investors with total return through a combination of capital appreciation and current income.
The fund invests in a diversified portfolio of securities, primarily equity investments such as common stocks, preferred stocks and convertible securities. Depending on market conditions and its investment strategy, it may also invest in fixed-income securities and other income-producing assets.
The fund is managed by Cornerstone Advisors, Inc and is available to investors through the U.S.
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