Cornerstone Strategic Value Fund (NYSEAMERICAN:CLM) Shares Gap Down – Should You Sell?

Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM)’s share price gapped down before the market opened on Monday . The stock had previously closed at $8.87, but opened at $8.23. Cornerstone Strategic Value Fund shares last traded at $8.26, with a volume of 3,487,966 shares changing hands.

Cornerstone Strategic Value Fund Price Performance

Cornerstone Strategic Value Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.1224 per share. This represents a $1.47 annualized dividend and a yield of 17.79%. The ex-dividend date is Monday, June 16th.

Institutional Trading of Cornerstone Strategic Value Fund

Several institutional investors and hedge funds have recently bought and sold shares of CLM. Strategic Financial Concepts LLC boosted its holdings in shares of Cornerstone Strategic Value Fund by 784.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 641,244 shares of the investment management company’s stock valued at $5,508,000 after buying an additional 568,744 shares during the period. Alpine Global Management LLC grew its holdings in shares of Cornerstone Strategic Value Fund by 6.7% during the fourth quarter. Alpine Global Management LLC now owns 6,301,760 shares of the investment management company’s stock valued at $54,132,000 after purchasing an additional 393,853 shares during the last quarter. LPL Financial LLC raised its position in shares of Cornerstone Strategic Value Fund by 37.2% during the 4th quarter. LPL Financial LLC now owns 1,306,485 shares of the investment management company’s stock worth $11,223,000 after purchasing an additional 354,086 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Cornerstone Strategic Value Fund in the 4th quarter worth approximately $2,678,000. Finally, Sculptor Capital LP acquired a new position in Cornerstone Strategic Value Fund during the 4th quarter valued at approximately $1,560,000.

Cornerstone Strategic Value Fund Company Profile

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.