Cornerstone Strategic Investment Fund (NYSEAMERICAN:CLM) Stock: Insider Joshua Bradshaw Buys 16,000 Shares

Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM) Vice Chairman Joshua Bradshaw bought 16,000 shares of the stock in a transaction on Tuesday, October 20th. The shares were bought at an average cost of $6.08 per share, with a total value of $97,280.00. Following the purchase, the insider owned 20,356 shares of the company’s stock, valued at $123,764.48. This trade represents a 367.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cornerstone Strategic Investment Fund Trading Down 2.1%

Shares of CLM opened at $6.10 on Friday. Cornerstone Strategic Investment Fund, Inc. has a 1-year low of $6.07 and a 1-year high of $8.53. The firm has a 50-day simple moving average of $6.53 and a two-hundred day simple moving average of $7.16.

Cornerstone Strategic Investment Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a $0.1215 dividend. This represents a $1.46 annualized dividend and a dividend yield of 23.9%. The ex-dividend date is Tuesday, December 15th.

Hedge Funds Weigh In On Cornerstone Strategic Investment Fund

A number of hedge funds have recently made changes to their positions in CLM. Benjamin Edwards Inc. increased its holdings in Cornerstone Strategic Investment Fund by 2.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 74,406 shares of the investment management company’s stock valued at $562,000 after purchasing an additional 1,819 shares during the last quarter. Firethorn Wealth Partners LLC raised its position in Cornerstone Strategic Investment Fund by 5.3% in the third quarter. Firethorn Wealth Partners LLC now owns 44,393 shares of the investment management company’s stock valued at $284,000 after purchasing an additional 2,236 shares during the period. Farther Finance Advisors LLC raised its position in Cornerstone Strategic Investment Fund by 100.3% in the third quarter. Farther Finance Advisors LLC now owns 5,379 shares of the investment management company’s stock valued at $34,000 after purchasing an additional 2,693 shares during the period. Pasadena Private Wealth LLC lifted its stake in Cornerstone Strategic Investment Fund by 15.7% during the first quarter. Pasadena Private Wealth LLC now owns 23,661 shares of the investment management company’s stock worth $172,000 after purchasing an additional 3,204 shares in the last quarter. Finally, Secure Asset Management LLC boosted its position in shares of Cornerstone Strategic Investment Fund by 36.2% during the second quarter. Secure Asset Management LLC now owns 17,065 shares of the investment management company’s stock worth $129,000 after buying an additional 4,535 shares during the period.

Cornerstone Strategic Investment Fund Company Profile

Cornerstone Strategic Investment Fund, Inc is a publicly traded closed-end management investment company listed on the NYSE American under the symbol CLM. The fund seeks to provide investors with total return through a combination of capital appreciation and current income.

The fund invests in a diversified portfolio of securities, primarily equity investments such as common stocks, preferred stocks and convertible securities. Depending on market conditions and its investment strategy, it may also invest in fixed-income securities and other income-producing assets.

The fund is managed by Cornerstone Advisors, Inc and is available to investors through the U.S.