Cetera Investment Advisers Has $9.87 Million Stock Position in Cornerstone Strategic Investment Fund, Inc. $CLM

Key Points

• Cetera Investment Advisers increased its Cornerstone Strategic Investment Fund stake by 12.9% in the first quarter, adding 155,132 shares to hold 1.36 million shares valued at approximately $9.87 million.
• Several other institutional investors also expanded their positions, including PFG Investments, which increased its stake by more than 7,500%, and Quarry LP, which raised its holdings by 353.6%.
• CLM shares opened at $7.32, within a 52-week range of $6.92 to $8.53, while the fund announced a monthly dividend of $0.1215 per share, representing an annualized yield of about 19.9%.

Cetera Investment Advisers increased its stake in Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Free Report) by 12.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,355,378 shares of the investment management company's stock after purchasing an additional 155,132 shares during the quarter. Cetera Investment Advisers owned approximately 0.54% of Cornerstone Strategic Investment Fund worth $9,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PFG Investments LLC lifted its stake in Cornerstone Strategic Investment Fund by 7,582.9% during the fourth quarter. PFG Investments LLC now owns 2,997,808 shares of the investment management company's stock valued at $25,062,000 after buying an additional 2,958,789 shares in the last quarter. Sculptor Capital LP purchased a new position in shares of Cornerstone Strategic Investment Fund in the second quarter worth approximately $21,653,000. Quarry LP increased its position in shares of Cornerstone Strategic Investment Fund by 353.6% in the fourth quarter. Quarry LP now owns 1,235,307 shares of the investment management company's stock worth $10,327,000 after acquiring an additional 962,972 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Cornerstone Strategic Investment Fund by 24.1% during the fourth quarter. LPL Financial LLC now owns 1,802,318 shares of the investment management company's stock valued at $15,067,000 after acquiring an additional 350,079 shares during the period. Finally, Kovack Advisors Inc. acquired a new stake in shares of Cornerstone Strategic Investment Fund during the fourth quarter valued at approximately $1,766,000.

Cornerstone Strategic Investment Fund Stock Performance

Shares of NYSEAMERICAN:CLM opened at $7.32 on Friday. The firm has a 50 day simple moving average of $7.49 and a 200 day simple moving average of $7.62. Cornerstone Strategic Investment Fund, Inc. has a 52 week low of $6.92 and a 52 week high of $8.53.

Cornerstone Strategic Investment Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.1215 per share. This represents a c) annualized dividend and a yield of 19.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

About Cornerstone Strategic Investment Fund

Cornerstone Strategic Investment Fund (NYSE American: CLM) is a closed-end diversified management investment company organized under the Investment Company Act of 1940. The fund's primary objective is to seek total return, with an emphasis on dividend income and long-term capital appreciation for its shareholders. Trading on the NYSE American, CLM offers investors exposure to a flexible portfolio designed to capture income opportunities across various market environments.

The fund seeks to achieve its objective by investing primarily in convertible securities, including both convertible bonds and convertible preferred stocks, as well as common stocks of companies with favorable risk-return profiles.

Want to see what other hedge funds are holding CLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.