Cornerstone Strategic Investment Fund, Inc. $CLM Stock Holdings Boosted by Alpine Global Management LLC

Key Points

• Alpine Global Management increased its stake in Cornerstone Strategic Investment Fund (CLM) by 5.8% in Q3 to 6,993,780 shares (~$57.9M), making CLM 9.2% of Alpine’s portfolio and its largest holding.
• Cornerstone announced a monthly dividend of $0.1215 payable June 30 (record/ex-dividend date June 15), which implies a roughly 19.7% yield.
• Other institutional investors also boosted positions—notably Boothbay Fund Management holds 6,408,552 shares (~$53.1M) and firms like Kestra, Susquehanna and Creative Planning added to their CLM stakes.

Alpine Global Management LLC grew its holdings in shares of Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Free Report) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,993,780 shares of the investment management company's stock after purchasing an additional 380,985 shares during the quarter. Cornerstone Strategic Investment Fund makes up 9.2% of Alpine Global Management LLC's investment portfolio, making the stock its largest holding. Alpine Global Management LLC owned 2.77% of Cornerstone Strategic Investment Fund worth $57,909,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CLM. Kestra Private Wealth Services LLC increased its position in shares of Cornerstone Strategic Investment Fund by 10.1% during the third quarter. Kestra Private Wealth Services LLC now owns 26,756 shares of the investment management company's stock valued at $222,000 after buying an additional 2,459 shares during the period. Susquehanna International Group LLP increased its position in shares of Cornerstone Strategic Investment Fund by 41.9% in the third quarter. Susquehanna International Group LLP now owns 39,962 shares of the investment management company's stock valued at $331,000 after acquiring an additional 11,801 shares during the period. Larson Financial Group LLC raised its holdings in shares of Cornerstone Strategic Investment Fund by 14.4% during the third quarter. Larson Financial Group LLC now owns 11,578 shares of the investment management company's stock valued at $96,000 after acquiring an additional 1,456 shares in the last quarter. Boothbay Fund Management LLC raised its stake in Cornerstone Strategic Investment Fund by 4.4% in the third quarter. Boothbay Fund Management LLC now owns 6,408,552 shares of the investment management company's stock worth $53,063,000 after buying an additional 272,623 shares in the last quarter. Finally, Creative Planning boosted its holdings in shares of Cornerstone Strategic Investment Fund by 64.5% during the 3rd quarter. Creative Planning now owns 198,944 shares of the investment management company's stock valued at $1,647,000 after buying an additional 77,970 shares in the last quarter.

Cornerstone Strategic Investment Fund Price Performance

CLM stock opened at $7.39 on Wednesday. Cornerstone Strategic Investment Fund, Inc. has a 12-month low of $6.16 and a 12-month high of $8.53. The stock's 50 day simple moving average is $7.97 and its 200 day simple moving average is $8.16.

Cornerstone Strategic Investment Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.1215 dividend. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a yield of 19.7%.

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.