Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM) Sees Significant Decrease in Short Interest

Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLMGet Free Report) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 11,760,000 shares, a decline of 6.9% from the February 29th total of 12,630,000 shares. Based on an average daily volume of 1,361,600 shares, the days-to-cover ratio is currently 8.6 days.

Institutional Investors Weigh In On Cornerstone Strategic Value Fund

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Boothbay Fund Management LLC boosted its position in shares of Cornerstone Strategic Value Fund by 10.0% during the 2nd quarter. Boothbay Fund Management LLC now owns 5,379,877 shares of the investment management company’s stock worth $45,083,000 after purchasing an additional 491,081 shares in the last quarter. Bank of America Corp DE lifted its stake in Cornerstone Strategic Value Fund by 15.0% during the 4th quarter. Bank of America Corp DE now owns 3,579,399 shares of the investment management company’s stock valued at $26,380,000 after acquiring an additional 468,048 shares in the last quarter. Centaurus Financial Inc. boosted its holdings in Cornerstone Strategic Value Fund by 2.4% during the 2nd quarter. Centaurus Financial Inc. now owns 2,611,279 shares of the investment management company’s stock worth $21,883,000 after acquiring an additional 60,090 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Cornerstone Strategic Value Fund by 34.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,950,421 shares of the investment management company’s stock worth $16,345,000 after acquiring an additional 503,043 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Cornerstone Strategic Value Fund in the second quarter valued at about $6,111,000.

Cornerstone Strategic Value Fund Price Performance

Shares of CLM opened at $7.55 on Wednesday. The stock has a 50-day moving average price of $7.45. Cornerstone Strategic Value Fund has a 12-month low of $6.25 and a 12-month high of $8.84.

Cornerstone Strategic Value Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.1086 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 17.27%.

About Cornerstone Strategic Value Fund

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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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