Cornerstone Strategic Value Fund (NYSEAMERICAN:CLM) Hits New 12-Month Low at $8.05

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Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLMGet Rating) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.05 and last traded at $8.24, with a volume of 4171573 shares traded. The stock had previously closed at $8.27.

The firm also recently announced a monthly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a dividend of $0.1808 per share. This represents a $2.17 annualized dividend and a yield of 26.33%. The ex-dividend date of this dividend is Wednesday, September 14th.

Hedge funds and other institutional investors have recently made changes to their positions in the company. LPL Financial LLC grew its stake in Cornerstone Strategic Value Fund by 11.1% during the 3rd quarter. LPL Financial LLC now owns 107,101 shares of the investment management company’s stock worth $1,371,000 after purchasing an additional 10,672 shares in the last quarter. Kovack Advisors Inc. grew its position in shares of Cornerstone Strategic Value Fund by 4.0% during the fourth quarter. Kovack Advisors Inc. now owns 57,435 shares of the investment management company’s stock worth $821,000 after buying an additional 2,204 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Cornerstone Strategic Value Fund during the fourth quarter worth approximately $185,000. Wagner Wealth Management LLC raised its holdings in Cornerstone Strategic Value Fund by 104.7% in the third quarter. Wagner Wealth Management LLC now owns 7,778 shares of the investment management company’s stock valued at $107,000 after acquiring an additional 3,978 shares in the last quarter. Finally, David J Yvars Group purchased a new position in Cornerstone Strategic Value Fund in the fourth quarter worth approximately $55,000. Institutional investors and hedge funds own 5.72% of the company’s stock.

About Cornerstone Strategic Value Fund (NYSEAMERICAN:CLM)

Cornerstone Strategic Value Fund, Inc is a closed-ended equity mutual fund launched and managed by Cornerstone Advisors, Inc 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.

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