Cornerstone Strategic Investment Fund (NYSEAMERICAN:CLM) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Trading volume surged 92% to 4.07 million shares, while CLM fell 3.6% to $5.595, below its 50-day and 200-day moving averages.
• The fund announced a monthly dividend of $0.1215 per share, equivalent to $1.46 annualized and a 25.2% yield.
• Vice Chairman Joshua Bradshaw bought 16,000 shares, increasing his position by 367.31%; several institutional investors also established or expanded positions.

Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM - Get Free Report) saw strong trading volume on Monday. 4,067,856 shares traded hands during mid-day trading, an increase of 92% from the previous session's volume of 2,121,362 shares. The stock last traded at $5.5950 and had previously closed at $6.01.

Cornerstone Strategic Investment Fund Trading Down 3.6%

The firm has a fifty day simple moving average of $6.50 and a 200-day simple moving average of $7.15.

Cornerstone Strategic Investment Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.1215 per share. This represents a $1.46 annualized dividend and a yield of 25.2%. The ex-dividend date of this dividend is Tuesday, December 15th.

Insider Activity

In related news, Vice Chairman Joshua Bradshaw acquired 16,000 shares of the stock in a transaction on Tuesday, October 20th. The stock was purchased at an average price of $6.08 per share, for a total transaction of $97,280.00. Following the transaction, the insider 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On Cornerstone Strategic Investment Fund

Large investors have recently modified their holdings of the company. Sculptor Capital LP purchased a new stake in shares of Cornerstone Strategic Investment Fund during the second quarter valued at approximately $25,142,000. Perennial Investment Advisors LLC bought a new stake in Cornerstone Strategic Investment Fund during the 2nd quarter worth approximately $3,663,000. Cable Car Capital LP purchased a new stake in Cornerstone Strategic Investment Fund during the second quarter valued at approximately $9,632,000. Almitas Capital LLC bought a new stake in shares of Cornerstone Strategic Investment Fund in the second quarter valued at about $5,003,000. Finally, WJ Financial Advisors LLC increased its position in shares of Cornerstone Strategic Investment Fund by 69.2% in the 1st quarter. WJ Financial Advisors LLC now owns 444,915 shares of the investment management company's stock valued at $3,239,000 after acquiring an additional 181,900 shares during the period.

About Cornerstone Strategic Investment Fund

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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