Sit Investment Associates Inc. Makes New $260,000 Investment in Cornerstone Strategic Investment Fund, Inc. $CLM

Key Points

• Sit Investment Associates Inc. has acquired 35,000 shares of Cornerstone Strategic Investment Fund, valued at approximately $260,000, during the first quarter of the year.
• Cornerstone Strategic Investment Fund will pay a dividend of $0.1224 per share to stockholders on record as of August 18, representing a significant dividend yield of 1,813.0%.
• As of Friday, Cornerstone Strategic Investment Fund's stock price is $8.07, experiencing a decline of 1.6%, with a twelve-month price range between $6.16 and $9.30.

Sit Investment Associates Inc. purchased a new stake in shares of Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 35,000 shares of the investment management company's stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Meridian Wealth Management LLC acquired a new position in Cornerstone Strategic Investment Fund during the first quarter valued at approximately $74,000. Virtu Financial LLC grew its holdings in Cornerstone Strategic Investment Fund by 448.2% during the first quarter. Virtu Financial LLC now owns 148,325 shares of the investment management company's stock valued at $1,102,000 after purchasing an additional 121,267 shares during the last quarter. AlphaCore Capital LLC acquired a new position in Cornerstone Strategic Investment Fund during the first quarter valued at approximately $74,000. US Bancorp DE grew its holdings in Cornerstone Strategic Investment Fund by 732,771.4% during the first quarter. US Bancorp DE now owns 256,505 shares of the investment management company's stock valued at $1,906,000 after purchasing an additional 256,470 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in Cornerstone Strategic Investment Fund by 80.8% during the first quarter. Cetera Investment Advisers now owns 505,121 shares of the investment management company's stock valued at $3,753,000 after purchasing an additional 225,815 shares during the last quarter.

Cornerstone Strategic Investment Fund Trading Up 1.0%

Shares of Cornerstone Strategic Investment Fund stock traded up $0.08 during midday trading on Wednesday, hitting $8.08. The company had a trading volume of 1,583,134 shares, compared to its average volume of 1,992,110. The business's 50 day simple moving average is $8.06 and its two-hundred day simple moving average is $7.86. Cornerstone Strategic Investment Fund, Inc. has a 1-year low of $6.16 and a 1-year high of $9.30.

Cornerstone Strategic Investment Fund Dividend Announcement

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

About Cornerstone Strategic Investment Fund

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.