Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM) Sees Significant Decline in Short Interest

Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 13,470,000 shares, a decline of 7.0% from the December 15th total of 14,490,000 shares. Based on an average daily trading volume, of 2,073,000 shares, the days-to-cover ratio is presently 6.5 days.

Cornerstone Strategic Value Fund Stock Performance

Shares of CLM traded up $0.06 during mid-day trading on Friday, reaching $8.66. The company’s stock had a trading volume of 1,058,182 shares, compared to its average volume of 1,319,231. Cornerstone Strategic Value Fund has a 52 week low of $6.50 and a 52 week high of $9.30.

Cornerstone Strategic Value Fund Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, January 31st. Shareholders of record on Thursday, January 16th will be paid a $0.1224 dividend. This represents a yield of 16.92%. The ex-dividend date of this dividend is Wednesday, January 15th.

Institutional Trading of Cornerstone Strategic Value Fund

Several institutional investors have recently added to or reduced their stakes in CLM. Sea Otter Advisors LLC bought a new position in shares of Cornerstone Strategic Value Fund in the second quarter worth approximately $3,850,000. Doliver Advisors LP bought a new stake in Cornerstone Strategic Value Fund in the 3rd quarter worth $2,206,000. Cetera Investment Advisers grew its holdings in Cornerstone Strategic Value Fund by 64.0% in the 2nd quarter. Cetera Investment Advisers now owns 457,175 shares of the investment management company’s stock worth $3,520,000 after acquiring an additional 178,437 shares during the last quarter. Benjamin Edwards Inc. purchased a new position in shares of Cornerstone Strategic Value Fund in the third quarter valued at about $1,367,000. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Cornerstone Strategic Value Fund by 716.2% during the third quarter. Thrivent Financial for Lutherans now owns 157,255 shares of the investment management company’s stock worth $1,208,000 after purchasing an additional 137,988 shares during the period.

Cornerstone Strategic Value Fund Company Profile

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.