Sit Investment Associates Inc. Sells 1,336,818 Shares of Cornerstone Strategic Investment Fund, Inc. $CLM

Sit Investment Associates Inc. reduced its holdings in shares of Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM) by 22.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,640,226 shares of the investment management company’s stock after selling 1,336,818 shares during the period. Cornerstone Strategic Investment Fund makes up 0.8% of Sit Investment Associates Inc.’s holdings, making the stock its 27th biggest holding. Sit Investment Associates Inc.’s holdings in Cornerstone Strategic Investment Fund were worth $38,792,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CLM. Spire Wealth Management bought a new stake in shares of Cornerstone Strategic Investment Fund during the 4th quarter worth $30,000. Assetmark Inc. lifted its position 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 worth $67,000 after buying an additional 5,989 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Cornerstone Strategic Investment Fund during the 1st quarter worth $92,000. Larson Financial Group LLC lifted its position in shares of Cornerstone Strategic Investment Fund by 14.4% during the 3rd quarter. Larson Financial Group LLC now owns 11,578 shares of the investment management company’s stock worth $96,000 after buying an additional 1,456 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Cornerstone Strategic Investment Fund during the 3rd quarter worth $100,000.

Cornerstone Strategic Investment Fund Stock Performance

Shares of CLM stock opened at $7.52 on Friday. Cornerstone Strategic Investment Fund, Inc. has a twelve month low of $6.92 and a twelve month high of $8.53. The business has a fifty day simple moving average of $7.53 and a 200 day simple moving average of $7.84.

Cornerstone Strategic Investment Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.1215 per share. This represents a c) annualized dividend and a dividend yield of 19.4%. The ex-dividend date is Tuesday, September 15th.

Cornerstone Strategic Investment Fund 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.