Cornerstone Strategic Value Fund (NYSEAMERICAN:CLM) Hits New 52-Week High Following Dividend Announcement

Shares of Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM) hit a new 52-week high on Wednesday following a dividend announcement from the company. The company traded as high as $8.24 and last traded at $8.23, with a volume of 162598 shares traded. The stock had previously closed at $8.13.

The newly announced dividend which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.1224 per share. The ex-dividend date is Friday, March 14th. This represents a yield of 18.1%.

Cornerstone Strategic Value Fund Trading Up 0.8 %

The company has a 50-day simple moving average of $7.41.

Hedge Funds Weigh In On Cornerstone Strategic Value Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Planning Capital Management Corp grew its holdings in Cornerstone Strategic Value Fund by 2,598.4% during the 3rd quarter. Planning Capital Management Corp now owns 3,481 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 3,352 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in Cornerstone Strategic Value Fund by 800.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 509,390 shares of the investment management company’s stock valued at $39,000 after buying an additional 452,790 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new stake in shares of Cornerstone Strategic Value Fund during the second quarter valued at about $72,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Cornerstone Strategic Value Fund during the third quarter worth about $102,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Cornerstone Strategic Value Fund during the third quarter worth about $107,000.

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.