Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM) to Issue Dividend of $0.12

Key Points

• Cornerstone Strategic Investment Fund has declared a dividend of $0.12 per share, which is set to be issued on August 29th, to stockholders on record as of August 18th.
• The declared dividend results in a remarkable dividend yield of 1,813.0%.
• Several institutional investors have increased their stakes significantly in the fund, including Allworth Financial LP which boosted its position by 2,229.0% during the second quarter.

Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Get Free Report) declared a dividend on Tuesday, August 12th, investing.com reports. Stockholders of record on Monday, August 18th will be given a dividend of 0.1224 per share by the investment management company on Friday, August 29th. This represents a dividend yield of 1,813.0%. The ex-dividend date is Friday, August 15th.

Cornerstone Strategic Investment Fund Stock Performance

CLM opened at $8.10 on Tuesday. The company has a fifty day moving average price of $8.04 and a 200-day moving average price of $7.88. Cornerstone Strategic Investment Fund has a one year low of $6.16 and a one year high of $9.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perennial Investment Advisors LLC grew its position in Cornerstone Strategic Investment Fund by 3.3% in the second quarter. Perennial Investment Advisors LLC now owns 451,228 shares of the investment management company's stock worth $3,664,000 after acquiring an additional 14,271 shares in the last quarter. Cetera Investment Advisers boosted its position in Cornerstone Strategic Investment Fund by 20.9% during the second quarter. Cetera Investment Advisers now owns 610,585 shares of the investment management company's stock valued at $4,958,000 after buying an additional 105,464 shares during the period. Creative Planning boosted its position in Cornerstone Strategic Investment Fund by 26.9% during the second quarter. Creative Planning now owns 120,974 shares of the investment management company's stock valued at $982,000 after buying an additional 25,627 shares during the period. Meridian Wealth Management LLC boosted its position in Cornerstone Strategic Investment Fund by 91.3% during the second quarter. Meridian Wealth Management LLC now owns 19,126 shares of the investment management company's stock valued at $155,000 after buying an additional 9,126 shares during the period. Finally, Allworth Financial LP boosted its position in Cornerstone Strategic Investment Fund by 2,229.0% during the second quarter. Allworth Financial LP now owns 14,463 shares of the investment management company's stock valued at $117,000 after buying an additional 13,842 shares during the period.

Cornerstone Strategic Investment Fund Company Profile

Cornerstone Strategic Value Fund, Inc is a closed-ended equity mutual fund launched and managed by Cornerstone Advisors, LLC. The fund invests in public equity markets across the globe. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in value and growth stocks of companies.

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