Cornerstone Strategic Investment Fund (NYSEAMERICAN:CLM) Sees Strong Trading Volume – Still a Buy?

Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM) shares saw unusually-high trading volume on Monday. 4,067,856 shares traded hands during mid-day trading, an increase of 92% from the previous session’s volume of 2,121,362 shares. The stock last traded at $5.5950 and had previously closed at $6.01.

Cornerstone Strategic Investment Fund Price Performance

The stock has a fifty day moving average price of $6.50 and a two-hundred day moving average price of $7.15.

Cornerstone Strategic Investment Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.1215 per share. This represents a $1.46 dividend on an annualized basis and a yield of 25.2%. The ex-dividend date is Tuesday, December 15th.

Insider Activity

In other Cornerstone Strategic Investment Fund news, Vice Chairman Joshua Bradshaw purchased 16,000 shares of the stock in a transaction on Tuesday, October 20th. The stock was bought at an average price of $6.08 per share, for a total transaction of $97,280.00. Following the acquisition, the insider directly owned 20,356 shares of the company’s stock, valued at $123,764.48. This represents a 367.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 12.90% of the stock is owned by company insiders.

Institutional Trading of Cornerstone Strategic Investment Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC increased its stake in shares of Cornerstone Strategic Investment Fund by 28.5% in the third quarter. SeaCrest Wealth Management LLC now owns 50,322 shares of the investment management company’s stock worth $322,000 after acquiring an additional 11,161 shares during the last quarter. Firethorn Wealth Partners LLC raised its holdings in Cornerstone Strategic Investment Fund by 5.3% in the third quarter. Firethorn Wealth Partners LLC now owns 44,393 shares of the investment management company’s stock worth $284,000 after purchasing an additional 2,236 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Cornerstone Strategic Investment Fund during the 3rd quarter worth approximately $69,000. Farther Finance Advisors LLC increased its holdings in shares of Cornerstone Strategic Investment Fund by 100.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,379 shares of the investment management company’s stock worth $34,000 after acquiring an additional 2,693 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of Cornerstone Strategic Investment Fund by 11.6% in the second quarter. Baird Financial Group Inc. now owns 178,155 shares of the investment management company’s stock worth $1,347,000 after purchasing an additional 18,542 shares during the period.

About Cornerstone Strategic Investment Fund

Cornerstone Strategic Investment Fund, Inc is a publicly traded closed-end management investment company listed on the NYSE American under the symbol CLM. The fund seeks to provide investors with total return through a combination of capital appreciation and current income.

The fund invests in a diversified portfolio of securities, primarily equity investments such as common stocks, preferred stocks and convertible securities. Depending on market conditions and its investment strategy, it may also invest in fixed-income securities and other income-producing assets.

The fund is managed by Cornerstone Advisors, Inc and is available to investors through the U.S.