Cornerstone Strategic Value Fund (NYSEAMERICAN:CLM) Reaches New 52-Week High After Dividend Announcement

Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM)’s share price hit a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. 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 paid a $0.1224 dividend. This represents a yield of 18.1%. The ex-dividend date of this dividend is Friday, March 14th.

Cornerstone Strategic Value Fund Trading Up 1.8 %

The stock’s 50-day simple moving average is $7.41.

Institutional Trading of Cornerstone Strategic Value Fund

Several hedge funds and other institutional investors have recently bought and sold shares of CLM. Planning Capital Management Corp grew its holdings in Cornerstone Strategic Value Fund by 2,598.4% during the 3rd quarter. Planning Capital Management Corp now owns 3,481 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 3,352 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Cornerstone Strategic Value Fund during the third quarter valued at approximately $107,000. Aptus Capital Advisors LLC grew its stake in shares of Cornerstone Strategic Value Fund by 44.4% during the third quarter. Aptus Capital Advisors LLC now owns 195,808 shares of the investment management company’s stock valued at $1,504,000 after buying an additional 60,187 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of Cornerstone Strategic Value Fund by 19.5% in the third quarter. Chicago Partners Investment Group LLC now owns 31,007 shares of the investment management company’s stock worth $247,000 after buying an additional 5,064 shares during the period. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of Cornerstone Strategic Value Fund during the 3rd quarter worth approximately $600,000.

About Cornerstone Strategic Value Fund

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.