Cornerstone Strategic Investment Fund (NYSEAMERICAN:CLM) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.17 and traded as high as $8.33. Cornerstone Strategic Investment Fund shares last traded at $8.33, with a volume of 458,230 shares trading hands.

Cornerstone Strategic Investment Fund Stock Performance

The stock’s 50 day moving average is $8.24 and its two-hundred day moving average is $8.17.

Cornerstone Strategic Investment Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $0.1215 per share. This represents a c) annualized dividend and a yield of 17.5%. The ex-dividend date of this dividend is Monday, March 16th.

Institutional Investors Weigh In On Cornerstone Strategic Investment Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of CLM. Banque Transatlantique SA purchased a new stake in Cornerstone Strategic Investment Fund during the first quarter worth about $28,000. Farther Finance Advisors LLC lifted its position in shares of Cornerstone Strategic Investment Fund by 55.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,804 shares of the investment management company’s stock valued at $39,000 after acquiring an additional 1,715 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of Cornerstone Strategic Investment Fund during the 3rd quarter worth approximately $46,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Cornerstone Strategic Investment Fund during the 2nd quarter worth approximately $81,000. Finally, Larson Financial Group LLC grew its holdings in shares of Cornerstone Strategic Investment Fund by 14.4% in the 3rd quarter. Larson Financial Group LLC now owns 11,578 shares of the investment management company’s stock worth $96,000 after acquiring an additional 1,456 shares during the period.

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.