Shares of Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM - Get Free Report) hit a new 52-week high during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $8.24 and last traded at $8.23, with a volume of 162598 shares. The stock had previously closed at $8.13.
The newly announced dividend which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.1224 dividend. This represents a yield of 18.1%. The ex-dividend date is Friday, March 14th.
Cornerstone Strategic Value Fund Stock Performance
The business has a 50-day moving average price of $7.41.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers lifted its stake in Cornerstone Strategic Value Fund by 64.0% in the 2nd quarter. Cetera Investment Advisers now owns 457,175 shares of the investment management company's stock valued at $3,520,000 after buying an additional 178,437 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new stake in Cornerstone Strategic Value Fund during the 3rd quarter worth about $600,000. Doliver Advisors LP purchased a new stake in Cornerstone Strategic Value Fund during the 3rd quarter worth about $2,206,000. Strategic Financial Concepts LLC raised its stake in Cornerstone Strategic Value Fund by 800.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 509,390 shares of the investment management company's stock valued at $39,000 after purchasing an additional 452,790 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. lifted its holdings in Cornerstone Strategic Value Fund by 25.7% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 22,200 shares of the investment management company's stock valued at $171,000 after purchasing an additional 4,537 shares in the last quarter.
About Cornerstone Strategic Value Fund
(
Get Free Report)
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.
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