Perennial Investment Advisors LLC Purchases Shares of 484,530 Cornerstone Strategic Investment Fund, Inc. $CLM

Key Points

• Perennial Investment Advisors LLC acquired 484,530 shares of Cornerstone Strategic Investment Fund, valued at approximately $3.66 million and representing a 0.19% stake.
• CLM shares opened at $6.69, down 0.7%, near the company’s one-year low of $6.65 and below its 50-day and 200-day moving averages.
• The fund announced a monthly dividend of $0.1215 per share, implying an annualized yield of approximately 21.8%; the ex-dividend date is December 15.

Perennial Investment Advisors LLC acquired a new position in shares of Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 484,530 shares of the investment management company's stock, valued at approximately $3,663,000. Perennial Investment Advisors LLC owned 0.19% of Cornerstone Strategic Investment Fund as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Arax Advisory Partners raised its holdings in shares of Cornerstone Strategic Investment Fund by 94.0% during the fourth quarter. Arax Advisory Partners now owns 3,731 shares of the investment management company's stock valued at $31,000 after purchasing an additional 1,808 shares during the period. Compass Financial Management LLC acquired a new stake in Cornerstone Strategic Investment Fund in the second quarter valued at approximately $52,000. Everett Harris & Co. CA bought a new stake in shares of Cornerstone Strategic Investment Fund during the second quarter valued at approximately $77,000. OneDigital Investment Advisors LLC acquired a new position in shares of Cornerstone Strategic Investment Fund during the second quarter worth approximately $81,000. Finally, Allworth Financial LP acquired a new stake in Cornerstone Strategic Investment Fund in the 2nd quarter valued at $90,000.

Cornerstone Strategic Investment Fund Trading Down 0.7%

Shares of NYSEAMERICAN CLM opened at $6.69 on Thursday. The company has a 50-day moving average price of $7.35 and a 200-day moving average price of $7.48. Cornerstone Strategic Investment Fund, Inc. has a 1 year low of $6.65 and a 1 year high of $8.53.

Cornerstone Strategic Investment Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be given a dividend of $0.1215 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a c) annualized dividend and a dividend yield of 21.8%.

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.

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.