Cornerstone Strategic Investment Fund, Inc. $CLM Shares Sold by Thomas J. Herzfeld Advisors Inc.

Key Points

• Thomas J. Herzfeld Advisors Inc. reduced its holdings in Cornerstone Strategic Investment Fund by 48.3%, owning 88,892 shares valued at $660,000 after selling 82,960 shares in the first quarter.
• The Cornerstone Strategic Investment Fund recently declared a dividend of $0.1224 per share, representing a significant yield of 1,813.0%, scheduled to be paid on August 29th.
• Alongside Herzfeld, several institutional investors like Envestnet Asset Management Inc. and Raymond James Financial Inc. have modified their positions in the fund, indicating varying investment strategies among large holders.

Thomas J. Herzfeld Advisors Inc. decreased its holdings in shares of Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Free Report) by 48.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,892 shares of the investment management company's stock after selling 82,960 shares during the quarter. Thomas J. Herzfeld Advisors Inc.'s holdings in Cornerstone Strategic Investment Fund were worth $660,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. RPG Investment Advisory LLC purchased a new stake in Cornerstone Strategic Investment Fund during the first quarter worth approximately $74,000. Aptus Capital Advisors LLC increased its position in Cornerstone Strategic Investment Fund by 1.2% during the first quarter. Aptus Capital Advisors LLC now owns 215,052 shares of the investment management company's stock worth $1,598,000 after buying an additional 2,559 shares during the period. Sit Investment Associates Inc. acquired a new position in Cornerstone Strategic Investment Fund during the first quarter worth approximately $260,000. Meridian Wealth Management LLC acquired a new position in Cornerstone Strategic Investment Fund during the first quarter worth approximately $74,000. Finally, Virtu Financial LLC increased its position 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 worth $1,102,000 after buying an additional 121,267 shares during the period.

Cornerstone Strategic Investment Fund Trading Down 0.2%

CLM traded down $0.02 during trading on Friday, hitting $8.13. 1,541,903 shares of the stock were exchanged, compared to its average volume of 1,952,808. Cornerstone Strategic Investment Fund, Inc. has a 1-year low of $6.16 and a 1-year high of $9.30. The stock has a fifty day moving average price of $8.09 and a two-hundred day moving average price of $7.83.

Cornerstone Strategic Investment Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.1224 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 18.1%.

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.