Absolute Investment Advisers LLC Takes Position in Cornerstone Strategic Investment Fund, Inc. $CLM

Key Points

• Absolute Investment Advisers LLC has acquired a new stake in Cornerstone Strategic Investment Fund, purchasing 1,229,119 shares valued at approximately $9,980,000.
• The fund declared a monthly dividend of $0.1224 per share, set to be paid on December 31st, representing an annualized yield of 18.0%.
• Cornerstone Strategic Investment Fund's shares have shown a price range of $6.16 to $9.30 over the past year, with current trading at around $8.18.

Absolute Investment Advisers LLC bought a new stake in Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,229,119 shares of the investment management company's stock, valued at approximately $9,980,000. Absolute Investment Advisers LLC owned about 0.49% of Cornerstone Strategic Investment Fund at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Buska Wealth Management LLC lifted its position in Cornerstone Strategic Investment Fund by 9.1% in the second quarter. Buska Wealth Management LLC now owns 18,017 shares of the investment management company's stock valued at $146,000 after purchasing an additional 1,498 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Cornerstone Strategic Investment Fund by 55.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,804 shares of the investment management company's stock valued at $39,000 after buying an additional 1,715 shares during the period. Grimes & Company Inc. boosted its position in Cornerstone Strategic Investment Fund by 4.9% during the 1st quarter. Grimes & Company Inc. now owns 44,886 shares of the investment management company's stock valued at $334,000 after buying an additional 2,088 shares during the period. Aptus Capital Advisors LLC raised its stake in shares of Cornerstone Strategic Investment Fund by 1.2% during the first quarter. Aptus Capital Advisors LLC now owns 215,052 shares of the investment management company's stock valued at $1,598,000 after acquiring an additional 2,559 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its stake in shares of Cornerstone Strategic Investment Fund by 22.1% during the first quarter. Kestra Private Wealth Services LLC now owns 20,279 shares of the investment management company's stock valued at $151,000 after acquiring an additional 3,666 shares during the last quarter.

Cornerstone Strategic Investment Fund Price Performance

Shares of NYSEAMERICAN:CLM opened at $8.18 on Thursday. The company has a 50-day moving average price of $8.12 and a 200-day moving average price of $7.73. Cornerstone Strategic Investment Fund, Inc. has a 12 month low of $6.16 and a 12 month high of $9.30.

Cornerstone Strategic Investment Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.1224 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 18.0%.

About Cornerstone Strategic Investment Fund

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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