Cornerstone Strategic Investment Fund, Inc. $CLM Stake Boosted by Boothbay Fund Management LLC

Key Points

• Boothbay Fund Management increased its CLM stake by 4.4% in Q3, adding 272,623 shares to hold 6,408,552 shares (a $53.1M position), representing 2.54% ownership of Cornerstone and making CLM its second-largest holding at roughly 0.8% of Boothbay's portfolio.
• Dividend announced: Cornerstone declared a monthly dividend of $0.1215 per share (record date June 15, payable June 30; ex-dividend June 15), implying an annualized yield of about 19.5%.
• CLM shares opened at $7.49 (52-week range $6.16–$8.53; 50-day/200-day SMAs ~$8.01/$8.17), and the fund is a closed-end investment company focused on convertible securities aiming for total return with an emphasis on dividend income.

Boothbay Fund Management LLC lifted its position in Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Free Report) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,408,552 shares of the investment management company's stock after acquiring an additional 272,623 shares during the quarter. Cornerstone Strategic Investment Fund makes up about 0.8% of Boothbay Fund Management LLC's holdings, making the stock its 2nd biggest holding. Boothbay Fund Management LLC owned 2.54% of Cornerstone Strategic Investment Fund worth $53,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLM. Integrated Wealth Concepts LLC acquired a new stake in shares of Cornerstone Strategic Investment Fund during the first quarter worth approximately $92,000. Jane Street Group LLC acquired a new position in Cornerstone Strategic Investment Fund in the 1st quarter valued at approximately $265,000. AE Wealth Management LLC acquired a new position in Cornerstone Strategic Investment Fund in the 2nd quarter valued at approximately $407,000. Prospera Financial Services Inc lifted its position in Cornerstone Strategic Investment Fund by 11.3% in the 2nd quarter. Prospera Financial Services Inc now owns 70,726 shares of the investment management company's stock worth $574,000 after buying an additional 7,163 shares in the last quarter. Finally, Allworth Financial LP lifted its position in Cornerstone Strategic Investment Fund by 2,229.0% in the 2nd quarter. Allworth Financial LP now owns 14,463 shares of the investment management company's stock worth $117,000 after buying an additional 13,842 shares in the last quarter.

Cornerstone Strategic Investment Fund Trading Up 0.4%

Shares of Cornerstone Strategic Investment Fund stock opened at $7.49 on Friday. Cornerstone Strategic Investment Fund, Inc. has a 52-week low of $6.16 and a 52-week high of $8.53. The stock has a 50-day simple moving average of $8.01 and a 200-day simple moving average of $8.17.

Cornerstone Strategic Investment Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.1215 dividend. This represents a c) annualized dividend and a yield of 19.5%. The ex-dividend date is Monday, June 15th.

Cornerstone Strategic Investment Fund Company Profile

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.

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