Cornerstone Strategic Value Fund (NYSEAMERICAN:CLM) Shares Gap Down – What’s Next?

Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM) 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 traded.

Cornerstone Strategic Value Fund Price Performance

Cornerstone Strategic Value Fund Dividend Announcement

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

Hedge Funds Weigh In On Cornerstone Strategic Value Fund

A number of hedge funds have recently made changes to their positions in CLM. Planning Capital Management Corp grew its stake in Cornerstone Strategic Value Fund by 2,598.4% during the third quarter. Planning Capital Management Corp now owns 3,481 shares of the investment management company’s stock worth $27,000 after buying an additional 3,352 shares during the period. IFP Advisors Inc purchased a new stake in Cornerstone Strategic Value Fund during the 4th quarter worth $37,000. Anfield Capital Management LLC purchased a new stake in Cornerstone Strategic Value Fund during the 4th quarter worth $56,000. Larson Financial Group LLC increased its holdings in Cornerstone Strategic Value Fund by 51.4% in the 3rd quarter. Larson Financial Group LLC now owns 6,767 shares of the investment management company’s stock valued at $52,000 after purchasing an additional 2,296 shares in the last quarter. Finally, Assetmark Inc. purchased a new position in Cornerstone Strategic Value Fund in the fourth quarter valued at about $60,000.

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.