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

Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLMGet Free Report) was the recipient of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 12,270,000 shares, a drop of 13.0% from the May 15th total of 14,100,000 shares. Based on an average daily volume of 1,375,600 shares, the days-to-cover ratio is presently 8.9 days.

Institutional Trading of Cornerstone Strategic Value Fund

Several hedge funds have recently bought and sold shares of CLM. Cetera Advisors LLC increased its stake in Cornerstone Strategic Value Fund by 80.4% during the 1st quarter. Cetera Advisors LLC now owns 91,153 shares of the investment management company’s stock valued at $685,000 after buying an additional 40,631 shares during the period. Cetera Investment Advisers increased its stake in Cornerstone Strategic Value Fund by 1,164.7% during the 1st quarter. Cetera Investment Advisers now owns 278,738 shares of the investment management company’s stock valued at $2,096,000 after buying an additional 256,698 shares during the period. Alpine Global Management LLC increased its stake in Cornerstone Strategic Value Fund by 0.3% during the 1st quarter. Alpine Global Management LLC now owns 5,399,519 shares of the investment management company’s stock valued at $40,604,000 after buying an additional 14,168 shares during the period. Karpus Management Inc. increased its stake in Cornerstone Strategic Value Fund by 224.1% during the 1st quarter. Karpus Management Inc. now owns 1,944,212 shares of the investment management company’s stock valued at $14,620,000 after buying an additional 1,344,395 shares during the period. Finally, Capital Wealth Alliance LLC increased its stake in Cornerstone Strategic Value Fund by 25.9% during the 1st quarter. Capital Wealth Alliance LLC now owns 50,680 shares of the investment management company’s stock valued at $381,000 after buying an additional 10,432 shares during the period.

Cornerstone Strategic Value Fund Stock Performance

NYSEAMERICAN:CLM remained flat at $7.52 during mid-day trading on Tuesday. 1,294,590 shares of the company traded hands, compared to its average volume of 1,429,551. The company’s 50 day moving average price is $7.36. 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 company also recently disclosed a dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be given a $0.1086 dividend. The ex-dividend date of this dividend is Monday, July 15th.

Cornerstone Strategic Value Fund Company Profile

(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.

Further Reading

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