PFG Investments LLC Grows Position in Cornerstone Strategic Investment Fund, Inc. $CLM

Key Points

• PFG Investments LLC boosted its stake in Cornerstone Strategic Investment Fund by 7,582.9% in Q4, adding 2,958,789 shares to hold 2,997,808 shares (about 1.19% of CLM) valued at $25.06M, making CLM its 11th largest position.
• The fund declared a monthly dividend of $0.1215 per share payable June 30 (record/ex-dividend date June 15), which implies an annualized yield of 19.3%.
• CLM opened at $7.56 (down 2.2%), with a 52-week range of $6.57–$8.53 and 50-/200-day moving averages of $7.54 and $8.03 respectively.

PFG Investments LLC boosted its stake in Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Free Report) by 7,582.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,997,808 shares of the investment management company's stock after purchasing an additional 2,958,789 shares during the quarter. Cornerstone Strategic Investment Fund comprises 1.2% of PFG Investments LLC's portfolio, making the stock its 11th largest position. PFG Investments LLC owned about 1.19% of Cornerstone Strategic Investment Fund worth $25,062,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CLM. Spire Wealth Management purchased a new stake in Cornerstone Strategic Investment Fund in the fourth quarter valued at approximately $30,000. Atlantic Union Bankshares Corp purchased a new stake in Cornerstone Strategic Investment Fund in the third quarter valued at approximately $46,000. Assetmark Inc. grew its holdings in Cornerstone Strategic Investment Fund by 303.9% in the fourth quarter. Assetmark Inc. now owns 7,960 shares of the investment management company's stock valued at $67,000 after purchasing an additional 5,989 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in Cornerstone Strategic Investment Fund in the second quarter valued at approximately $81,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Cornerstone Strategic Investment Fund in the first quarter valued at approximately $92,000.

Cornerstone Strategic Investment Fund Stock Down 2.2%

Shares of CLM stock opened at $7.56 on Thursday. Cornerstone Strategic Investment Fund, Inc. has a fifty-two week low of $6.57 and a fifty-two week high of $8.53. The firm's 50 day moving average price is $7.54 and its two-hundred day moving average price is $8.03.

Cornerstone Strategic Investment Fund Dividend Announcement

The firm 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 dividend of $0.1215 per share. This represents a c) dividend on an annualized basis and a yield of 19.3%. The ex-dividend date of this dividend 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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