LPL Financial LLC Sells 193,227 Shares of Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM)

Key Points

• LPL Financial LLC reduced its stake in Cornerstone Strategic Investment Fund by 14.8%, owning 1,113,258 shares after selling 193,227 shares in the first quarter.
• Cornerstone Strategic Investment Fund announced a dividend of $0.1224 per share, yielding an impressive 1,783.0%, with the dividend paid on July 31.
• The stock's current price is $8.15, showing a twelve-month range between a low of $6.16 and a high of $9.30.

LPL Financial LLC lessened its position in shares of Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Free Report) by 14.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,113,258 shares of the investment management company's stock after selling 193,227 shares during the quarter. LPL Financial LLC owned about 0.46% of Cornerstone Strategic Investment Fund worth $8,272,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CLM. Park Square Financial Group LLC purchased a new position in Cornerstone Strategic Investment Fund in the fourth quarter worth about $49,000. Valmark Advisers Inc. purchased a new position in Cornerstone Strategic Investment Fund in the first quarter worth about $74,000. Mosaic Family Wealth Partners LLC purchased a new position in Cornerstone Strategic Investment Fund in the fourth quarter worth about $87,000. Townsquare Capital LLC grew its position in Cornerstone Strategic Investment Fund by 12.2% in the fourth quarter. Townsquare Capital LLC now owns 12,086 shares of the investment management company's stock worth $104,000 after acquiring an additional 1,317 shares in the last quarter. Finally, Buska Wealth Management LLC grew its position in Cornerstone Strategic Investment Fund by 46.4% in the first quarter. Buska Wealth Management LLC now owns 16,519 shares of the investment management company's stock worth $123,000 after acquiring an additional 5,239 shares in the last quarter.

Cornerstone Strategic Investment Fund Trading Up 0.1%

CLM traded up $0.01 on Thursday, hitting $8.20. The company had a trading volume of 1,196,463 shares, compared to its average volume of 1,987,981. Cornerstone Strategic Investment Fund, Inc. has a 12-month low of $6.16 and a 12-month high of $9.30. The business's fifty day simple moving average is $8.05 and its 200 day simple moving average is $7.88.

Cornerstone Strategic Investment Fund Dividend Announcement

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

Cornerstone Strategic Investment Fund Profile

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.