Cornerstone Strategic Investment Fund (NYSEAMERICAN:CLM) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.23 and traded as high as $8.36. Cornerstone Strategic Investment Fund shares last traded at $8.28, with a volume of 1,796,277 shares changing hands.

Cornerstone Strategic Investment Fund Stock Down 0.6%

The stock’s 50 day moving average is $8.31 and its 200 day moving average is $8.23.

Cornerstone Strategic Investment Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a $0.1215 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 17.6%. The ex-dividend date of this dividend is Monday, March 16th.

Institutional Trading of Cornerstone Strategic Investment Fund

A number of hedge funds have recently added to or reduced their stakes in the business. PFG Investments LLC increased its position in Cornerstone Strategic Investment Fund by 7,582.9% during the fourth quarter. PFG Investments LLC now owns 2,997,808 shares of the investment management company’s stock worth $25,062,000 after purchasing an additional 2,958,789 shares during the last quarter. Assetmark Inc. grew its stake in shares of Cornerstone Strategic Investment Fund by 303.9% during the 4th quarter. Assetmark Inc. now owns 7,960 shares of the investment management company’s stock valued at $67,000 after buying an additional 5,989 shares during the period. Savvy Advisors Inc. acquired a new stake in shares of Cornerstone Strategic Investment Fund during the 4th quarter worth $909,000. Stratos Wealth Partners LTD. raised its position in shares of Cornerstone Strategic Investment Fund by 23.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 626,085 shares of the investment management company’s stock worth $5,234,000 after buying an additional 117,607 shares during the period. Finally, Spire Wealth Management acquired a new position in Cornerstone Strategic Investment Fund in the fourth quarter valued at $30,000.

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.