Cornerstone Strategic Value Fund Inc. (CLM): Significant Improvements That Are Worth Pondering

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Cornerstone Strategic Value Fund Inc. (NYSE:CLM) price on Thursday, October 07, rose 1.19% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $13.18.

A look at the stock’s price movement, the level at last check in today’s session was $13.02. The beta value (5-Year monthly) was 1.02 while the PE ratio in trailing twelve months stood at 9.76. Turning to its 52-week performance, $13.81 and $10.41 were the 52-week high and 52-week low respectively. Overall, CLM moved -1.21% over the past month.

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Cornerstone Strategic Value Fund Inc.’s market cap currently stands at around $1.01 billion, with investors looking forward to this quarter’s earnings report slated for Feb 28, 2020. The company has a Forward Dividend ratio of 1.92, with its dividend yield at 14.75%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that CLM is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.

CLM’s current price about 1.77% and 4.05% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 63.39, while 7-day volatility ratio is 1.75% and 1.39% in the 30-day chart. Further, Cornerstone Strategic Value Fund Inc. (CLM) has a beta value of 0, and an average true range (ATR) of 0.19.

In the market, a comparison of Cornerstone Strategic Value Fund Inc. (CLM) and its peers suggest the former has performed considerably stronger. Data shows CLM’s intraday price has changed 1.19% today and 17.51% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 1.35% and 1.45% respectively on the day as seen in early trades.

If we refocus on Cornerstone Strategic Value Fund Inc. (NYSE:CLM), historical trading data shows that trading volumes averaged 1.02 million over the past 10 days and 1.00 million over the past 3 months. The company’s latest data on shares outstanding shows there are 77.67 million shares.

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The institutional holders own 12.34% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 96500.0 on Aug 30, 2021, giving us a short ratio of 0.11. The data shows that as of Aug 30, 2021 short interest in Cornerstone Strategic Value Fund Inc. (CLM) stood at 0.08% of shares outstanding, with shares short rising to 84480.0 registered in Jul 29, 2021. Current price change has pushed the stock 11.01% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CLM stock continues to rise going into the next quarter.