Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM) Short Interest Up 69.8% in April

Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLMGet Rating) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 13,480,000 shares, a growth of 69.8% from the April 15th total of 7,940,000 shares. Based on an average daily volume of 1,896,800 shares, the days-to-cover ratio is currently 7.1 days.

Several hedge funds and other institutional investors have recently modified their holdings of CLM. Morgan Stanley grew its holdings in shares of Cornerstone Strategic Value Fund by 5.5% during the second quarter. Morgan Stanley now owns 100,497 shares of the investment management company’s stock valued at $1,167,000 after buying an additional 5,212 shares during the last quarter. Royal Bank of Canada boosted its holdings in Cornerstone Strategic Value Fund by 33.3% during the second quarter. Royal Bank of Canada now owns 5,011 shares of the investment management company’s stock worth $58,000 after purchasing an additional 1,253 shares during the last quarter. Bank of America Corp DE boosted its holdings in Cornerstone Strategic Value Fund by 116.2% during the second quarter. Bank of America Corp DE now owns 5,275 shares of the investment management company’s stock worth $61,000 after purchasing an additional 2,835 shares during the last quarter. Prospera Financial Services Inc boosted its holdings in Cornerstone Strategic Value Fund by 31.4% during the third quarter. Prospera Financial Services Inc now owns 14,450 shares of the investment management company’s stock worth $185,000 after purchasing an additional 3,450 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its holdings in Cornerstone Strategic Value Fund by 9.4% during the third quarter. Centaurus Financial Inc. now owns 1,381,377 shares of the investment management company’s stock worth $17,682,000 after purchasing an additional 119,040 shares during the last quarter. Hedge funds and other institutional investors own 5.72% of the company’s stock.

Shares of NYSEAMERICAN CLM opened at $10.84 on Friday. Cornerstone Strategic Value Fund has a 1 year low of $9.95 and a 1 year high of $14.75.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be issued a dividend of $0.1808 per share. This represents a $2.17 dividend on an annualized basis and a dividend yield of 20.01%. The ex-dividend date of this dividend is Tuesday, June 14th.

About Cornerstone Strategic Value Fund (Get Rating)

Cornerstone Strategic Value Fund, Inc is a closed-ended equity mutual fund launched and managed by Cornerstone Advisors, Inc 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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