Raymond James Financial Inc. Invests $2.68 Million in Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM)

Raymond James Financial Inc. purchased a new position in Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM) during the fourth quarter, HoldingsChannel reports. The firm purchased 311,701 shares of the investment management company’s stock, valued at approximately $2,678,000.

Other hedge funds have also recently made changes to their positions in the company. Strategic Financial Concepts LLC grew its holdings in Cornerstone Strategic Value Fund by 784.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 641,244 shares of the investment management company’s stock worth $5,508,000 after acquiring an additional 568,744 shares in the last quarter. LPL Financial LLC grew its holdings in Cornerstone Strategic Value Fund by 37.2% during the 4th quarter. LPL Financial LLC now owns 1,306,485 shares of the investment management company’s stock worth $11,223,000 after acquiring an additional 354,086 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Cornerstone Strategic Value Fund during the fourth quarter valued at about $1,022,000. Winebrenner Capital Management LLC purchased a new stake in shares of Cornerstone Strategic Value Fund during the fourth quarter valued at about $931,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of Cornerstone Strategic Value Fund by 32.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 247,311 shares of the investment management company’s stock valued at $2,124,000 after buying an additional 60,888 shares during the last quarter.

Cornerstone Strategic Value Fund Price Performance

CLM stock opened at $6.97 on Wednesday. The firm has a 50-day simple moving average of $7.51 and a two-hundred day simple moving average of $7.94. Cornerstone Strategic Value Fund, Inc. has a one year low of $6.16 and a one year high of $9.30.

Cornerstone Strategic Value Fund Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.1224 per share. The ex-dividend date is Tuesday, April 15th.

Cornerstone Strategic Value Fund Profile

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.