Cornerstone Strategic Investment Fund (NYSEAMERICAN:CLM) Stock: Insider Joshua Bradshaw Buys 16,000 Shares

Key Points

• Insider purchase: Vice Chairman Joshua Bradshaw bought 16,000 CLM shares at an average of $6.08, increasing his position by 367.31% to 20,356 shares.
• Dividend: Cornerstone declared a monthly dividend of $0.1215 per share, equivalent to $1.46 annually and a 23.4% yield, payable December 31 to shareholders of record December 15.
• Trading and institutional activity: CLM rose 1% to $6.23, near its 52-week low of $6.07, while several institutional investors—including Sculptor Capital and Cable Car Capital—established significant new positions.

Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Get Free Report) Vice Chairman Joshua Bradshaw acquired 16,000 shares of the company's stock in a transaction that occurred on Tuesday, October 20th. The stock was bought at an average price of $6.08 per share, with a total value of $97,280.00. Following the acquisition, the insider directly owned 20,356 shares of the company's stock, valued at $123,764.48. The trade was a 367.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cornerstone Strategic Investment Fund Trading Up 1.0%

NYSEAMERICAN:CLM traded up $0.06 during mid-day trading on Wednesday, hitting $6.23. The company had a trading volume of 1,382,716 shares, compared to its average volume of 2,117,023. Cornerstone Strategic Investment Fund, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $8.53. The business's fifty day moving average is $6.58 and its two-hundred day moving average is $7.18.

Cornerstone Strategic Investment Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be given a $0.1215 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 23.4%. The ex-dividend date is Tuesday, December 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Sculptor Capital LP acquired a new stake in Cornerstone Strategic Investment Fund during the 2nd quarter worth $25,142,000. Cable Car Capital LP bought a new position in Cornerstone Strategic Investment Fund during the second quarter worth about $9,632,000. PFG Investments LLC lifted its holdings in Cornerstone Strategic Investment Fund by 37.5% during the first quarter. PFG Investments LLC now owns 4,123,031 shares of the investment management company's stock worth $30,016,000 after acquiring an additional 1,125,223 shares in the last quarter. Almitas Capital LLC acquired a new position in Cornerstone Strategic Investment Fund in the second quarter valued at about $5,003,000. Finally, Perennial Investment Advisors LLC acquired a new position in Cornerstone Strategic Investment Fund in the second quarter valued at about $3,663,000.

Cornerstone Strategic Investment Fund Company Profile

Cornerstone Strategic Investment Fund, Inc is a publicly traded closed-end management investment company listed on the NYSE American under the symbol CLM. The fund seeks to provide investors with total return through a combination of capital appreciation and current income.

The fund invests in a diversified portfolio of securities, primarily equity investments such as common stocks, preferred stocks and convertible securities. Depending on market conditions and its investment strategy, it may also invest in fixed-income securities and other income-producing assets.

The fund is managed by Cornerstone Advisors, Inc and is available to investors through the U.S.

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