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

Cornerstone Strategic Value Fund Inc. (NYSEAMERICAN:CLM) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totalling 95,800 shares, a decrease of 82.0% from the February 27th total of 532,400 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 797,400 shares, the short-interest ratio is currently 0.1 days.

CLM traded up $0.43 during trading on Thursday, hitting $8.47. 1,193,686 shares of the company’s stock were exchanged, compared to its average volume of 1,098,591. Cornerstone Strategic Value Fund has a fifty-two week low of $5.52 and a fifty-two week high of $12.48.

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.1853 per share. The ex-dividend date is Friday, June 12th. This represents a $2.22 annualized dividend and a yield of 26.25%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLM. Savior LLC acquired a new position in Cornerstone Strategic Value Fund during the fourth quarter worth $78,000. Landscape Capital Management L.L.C. acquired a new position in Cornerstone Strategic Value Fund during the fourth quarter worth $257,000. Biltmore Capital Advisors LLC raised its holdings in Cornerstone Strategic Value Fund by 43.8% during the fourth quarter. Biltmore Capital Advisors LLC now owns 23,000 shares of the investment management company’s stock worth $258,000 after buying an additional 7,000 shares during the last quarter. Bank of America Corp DE raised its holdings in Cornerstone Strategic Value Fund by 1,515.7% during the fourth quarter. Bank of America Corp DE now owns 33,300 shares of the investment management company’s stock worth $373,000 after buying an additional 31,239 shares during the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV raised its holdings in Cornerstone Strategic Value Fund by 34.4% during the fourth quarter. Mid Atlantic Financial Management Inc. ADV now owns 39,500 shares of the investment management company’s stock worth $443,000 after buying an additional 10,100 shares during the last quarter.

About Cornerstone Strategic Value Fund

Cornerstone Strategic Value Fund, Inc is a closed-ended equity mutual fund launched and managed by Cornerstone Advisors, Inc 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.

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