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

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

Cornerstone Strategic Value Fund Trading Up 0.6 %

Cornerstone Strategic Value Fund Announces Dividend

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 dividend yield of 17.73%. The ex-dividend date of this dividend is Monday, June 16th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Strategic Financial Concepts LLC raised its holdings in Cornerstone Strategic Value Fund by 784.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 641,244 shares of the investment management company’s stock valued at $5,508,000 after acquiring an additional 568,744 shares during the last quarter. Alpine Global Management LLC boosted its stake in Cornerstone Strategic Value Fund by 6.7% in the 4th quarter. Alpine Global Management LLC now owns 6,301,760 shares of the investment management company’s stock worth $54,132,000 after buying an additional 393,853 shares during the last quarter. LPL Financial LLC grew its holdings in Cornerstone Strategic Value Fund by 37.2% in the 4th quarter. LPL Financial LLC now owns 1,306,485 shares of the investment management company’s stock valued at $11,223,000 after buying an additional 354,086 shares during the period. Raymond James Financial Inc. purchased a new stake in Cornerstone Strategic Value Fund in the 4th quarter valued at about $2,678,000. Finally, Sculptor Capital LP acquired a new position in shares of Cornerstone Strategic Value Fund during the 4th quarter valued at about $1,560,000.

About Cornerstone Strategic Value Fund

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.