Cornerstone Strategic Value Fund (NYSEAMERICAN:CLM) Shares Up 5.8% – Should You Buy?

Shares of Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM) were up 5.8% during trading on Wednesday . The stock traded as high as $8.69 and last traded at $8.69. Approximately 1,947,423 shares traded hands during trading, an increase of 24% from the average daily volume of 1,570,414 shares. The stock had previously closed at $8.21.

Cornerstone Strategic Value Fund Price Performance

Cornerstone Strategic Value Fund Announces Dividend

The company also recently declared a — dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1224 per share. This represents a yield of 18.1%. The ex-dividend date of this dividend is Friday, March 14th.

Hedge Funds Weigh In On Cornerstone Strategic Value Fund

Several institutional investors have recently bought and sold shares of the company. Planning Capital Management Corp boosted its holdings in Cornerstone Strategic Value Fund by 2,598.4% in the third 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 period. Strategic Financial Concepts LLC grew its position in shares of Cornerstone Strategic Value Fund by 800.0% during the second quarter. Strategic Financial Concepts LLC now owns 509,390 shares of the investment management company’s stock worth $39,000 after buying an additional 452,790 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Cornerstone Strategic Value Fund by 51.4% during the third quarter. Larson Financial Group LLC now owns 6,767 shares of the investment management company’s stock worth $52,000 after buying an additional 2,296 shares during the period. Townsquare Capital LLC acquired a new stake in Cornerstone Strategic Value Fund in the third quarter valued at approximately $83,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Cornerstone Strategic Value Fund in the third quarter worth approximately $102,000.

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.