Benjamin Edwards Inc. Sells 35,120 Shares of Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM)

Key Points

• Benjamin Edwards Inc. reduced its stake in Cornerstone Strategic Investment Fund by 22.3%, owning 122,569 shares worth approximately $911,000 after selling 35,120 shares in the first quarter.
• Institutional investors have shown increased activity, with Envestnet Asset Management Inc. boosting its position by 82.3% in the fourth quarter, indicating growing interest in the fund.
• Cornerstone Strategic Investment Fund announced a significant dividend of $0.1224 per share, resulting in an extraordinary yield of 1,813.0%, to be paid at the end of August.

Benjamin Edwards Inc. lessened its holdings in shares of Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Free Report) by 22.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,569 shares of the investment management company's stock after selling 35,120 shares during the quarter. Benjamin Edwards Inc. owned approximately 0.05% of Cornerstone Strategic Investment Fund worth $911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CLM. Park Square Financial Group LLC purchased a new position in Cornerstone Strategic Investment Fund during the fourth quarter valued at $49,000. Valmark Advisers Inc. purchased a new position in shares of Cornerstone Strategic Investment Fund in the first quarter valued at about $74,000. AlphaCore Capital LLC purchased a new position in shares of Cornerstone Strategic Investment Fund in the first quarter valued at about $74,000. Mosaic Family Wealth Partners LLC purchased a new position in shares of Cornerstone Strategic Investment Fund in the fourth quarter valued at about $87,000. Finally, Townsquare Capital LLC boosted its stake in Cornerstone Strategic Investment Fund by 12.2% during the fourth quarter. Townsquare Capital LLC now owns 12,086 shares of the investment management company's stock valued at $104,000 after buying an additional 1,317 shares during the last quarter.

Cornerstone Strategic Investment Fund Trading Down 1.6%

CLM stock traded down $0.13 during midday trading on Friday, reaching $8.07. 1,181,977 shares of the company traded hands, compared to its average volume of 1,335,423. Cornerstone Strategic Investment Fund, Inc. has a 52-week low of $6.16 and a 52-week high of $9.30. The business has a 50 day moving average of $8.06 and a 200-day moving average of $7.87.

Cornerstone Strategic Investment Fund Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be issued a $0.1224 dividend. This represents a dividend yield of 1,813.0%. The ex-dividend date is Friday, August 15th.

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.