Savvy Advisors Inc. Invests $909,000 in Cornerstone Strategic Investment Fund, Inc. $CLM

Savvy Advisors Inc. purchased a new position in shares of Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM) during the fourth quarter, HoldingsChannel reports. The fund purchased 108,760 shares of the investment management company’s stock, valued at approximately $909,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Alpine Global Management LLC boosted its position in shares of Cornerstone Strategic Investment Fund by 5.8% during the third quarter. Alpine Global Management LLC now owns 6,993,780 shares of the investment management company’s stock worth $57,909,000 after purchasing an additional 380,985 shares in the last quarter. Boothbay Fund Management LLC boosted its position in shares of Cornerstone Strategic Investment Fund by 4.4% during the third quarter. Boothbay Fund Management LLC now owns 6,408,552 shares of the investment management company’s stock worth $53,063,000 after purchasing an additional 272,623 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Cornerstone Strategic Investment Fund by 29.3% during the second quarter. Osaic Holdings Inc. now owns 3,493,550 shares of the investment management company’s stock worth $28,367,000 after purchasing an additional 791,583 shares in the last quarter. Sculptor Capital LP bought a new position in shares of Cornerstone Strategic Investment Fund during the second quarter worth $21,653,000. Finally, Stratos Wealth Partners LTD. boosted its position in shares of Cornerstone Strategic Investment Fund by 23.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 626,085 shares of the investment management company’s stock worth $5,234,000 after purchasing an additional 117,607 shares in the last quarter.

Cornerstone Strategic Investment Fund Price Performance

Shares of NYSEAMERICAN CLM opened at $7.18 on Wednesday. The company’s fifty day moving average is $7.62 and its 200-day moving average is $8.05. Cornerstone Strategic Investment Fund, Inc. has a twelve month low of $6.55 and a twelve month high of $8.53.

Cornerstone Strategic Investment Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.1215 per share. This represents a c) dividend on an annualized basis and a dividend yield of 20.3%. The ex-dividend date of this dividend is Monday, June 15th.

Cornerstone Strategic Investment Fund Company Profile

Cornerstone Strategic Investment Fund (NYSE American: CLM) is a closed-end diversified management investment company organized under the Investment Company Act of 1940. The fund’s primary objective is to seek total return, with an emphasis on dividend income and long-term capital appreciation for its shareholders. Trading on the NYSE American, CLM offers investors exposure to a flexible portfolio designed to capture income opportunities across various market environments.

The fund seeks to achieve its objective by investing primarily in convertible securities, including both convertible bonds and convertible preferred stocks, as well as common stocks of companies with favorable risk-return profiles.