WJ Financial Advisors LLC Increases Stock Position in Cornerstone Strategic Investment Fund, Inc. $CLM

Key Points

• WJ Financial Advisors LLC increased its stake in Cornerstone Strategic Investment Fund (NYSEAMERICAN: CLM) by 69.2% in the first quarter, bringing its holdings to 444,915 shares valued at about $3.24 million.
• The article notes that several other institutional investors also recently added to or initiated positions in CLM, indicating continued interest from hedge funds and wealth managers.
• Cornerstone Strategic Investment Fund announced a monthly dividend of $0.1215 per share, payable on September 30, which implies an annualized yield of 19.2%.

WJ Financial Advisors LLC raised its stake in Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Free Report) by 69.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 444,915 shares of the investment management company's stock after acquiring an additional 181,900 shares during the quarter. Cornerstone Strategic Investment Fund makes up 2.6% of WJ Financial Advisors LLC's holdings, making the stock its 7th biggest position. WJ Financial Advisors LLC owned approximately 0.18% of Cornerstone Strategic Investment Fund worth $3,239,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CLM. Spire Wealth Management purchased a new stake in shares of Cornerstone Strategic Investment Fund during the 4th quarter worth approximately $30,000. Arax Advisory Partners lifted its stake in Cornerstone Strategic Investment Fund by 94.0% in 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 last quarter. Assetmark Inc. grew its holdings in Cornerstone Strategic Investment Fund by 303.9% during 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. Integrated Wealth Concepts LLC bought a new position in Cornerstone Strategic Investment Fund during the first quarter valued at $92,000. Finally, Larson Financial Group LLC increased its position in Cornerstone Strategic Investment Fund by 14.4% in the third quarter. Larson Financial Group LLC now owns 11,578 shares of the investment management company's stock worth $96,000 after buying an additional 1,456 shares during the last quarter.

Cornerstone Strategic Investment Fund Stock Performance

Shares of CLM opened at $7.58 on Tuesday. The stock's fifty day moving average price is $7.55 and its two-hundred day moving average price is $7.71. Cornerstone Strategic Investment Fund, Inc. has a 1 year low of $6.92 and a 1 year high of $8.53.

Cornerstone Strategic Investment Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.1215 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 19.2%.

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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