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

Sit Investment Associates Inc. trimmed its stake in shares of Cornerstone Strategic Investment Fund, Inc. (NYSEAMERICAN:CLM) by 22.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 4,640,226 shares of the investment management company’s stock after selling 1,336,818 shares during the quarter. Cornerstone Strategic Investment Fund comprises about 0.8% of Sit Investment Associates Inc.’s portfolio, making the stock its 27th biggest holding. Sit Investment Associates Inc. owned approximately 1.84% of Cornerstone Strategic Investment Fund worth $38,792,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of CLM. Integrated Wealth Concepts LLC bought a new stake in shares of Cornerstone Strategic Investment Fund during the 1st quarter valued at $92,000. Jane Street Group LLC bought a new stake in shares of Cornerstone Strategic Investment Fund during the 1st quarter valued at $265,000. NewEdge Advisors LLC lifted its position in shares of Cornerstone Strategic Investment Fund by 29.8% during the 2nd quarter. NewEdge Advisors LLC now owns 29,865 shares of the investment management company’s stock valued at $243,000 after acquiring an additional 6,865 shares during the period. Raymond James Financial Inc. lifted its position in shares of Cornerstone Strategic Investment Fund by 13.1% during the 2nd quarter. Raymond James Financial Inc. now owns 351,430 shares of the investment management company’s stock valued at $2,854,000 after acquiring an additional 40,761 shares during the period. Finally, Sculptor Capital LP bought a new stake in shares of Cornerstone Strategic Investment Fund during the 2nd quarter valued at $21,653,000.

Cornerstone Strategic Investment Fund Trading Up 1.5%

NYSEAMERICAN:CLM opened at $7.52 on Friday. The stock has a fifty day moving average price of $7.53 and a 200-day moving average price of $7.84. Cornerstone Strategic Investment Fund, Inc. has a fifty-two week low of $6.92 and a fifty-two week high of $8.53.

Cornerstone Strategic Investment Fund Announces Dividend

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

About Cornerstone Strategic Investment Fund

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.