Kovack Advisors Inc. Purchases Shares of 11,725 Cornerstone Strategic Value Fund Inc. (CLM)

Kovack Advisors Inc. purchased a new stake in shares of Cornerstone Strategic Value Fund Inc. (NYSEAMERICAN:CLM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,725 shares of the investment management company’s stock, valued at approximately $164,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC bought a new stake in shares of Cornerstone Strategic Value Fund during the 1st quarter valued at $464,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Cornerstone Strategic Value Fund by 8.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 109,925 shares of the investment management company’s stock valued at $1,680,000 after purchasing an additional 8,211 shares during the period. Millennium Management LLC bought a new stake in shares of Cornerstone Strategic Value Fund during the 1st quarter valued at $563,000. Creative Planning raised its stake in shares of Cornerstone Strategic Value Fund by 53.6% during the 2nd quarter. Creative Planning now owns 56,522 shares of the investment management company’s stock valued at $794,000 after purchasing an additional 19,734 shares during the period. Finally, Ford Financial Group Inc. raised its stake in shares of Cornerstone Strategic Value Fund by 12.4% during the 2nd quarter. Ford Financial Group Inc. now owns 72,300 shares of the investment management company’s stock valued at $1,001,000 after purchasing an additional 8,000 shares during the period.

Shares of NYSEAMERICAN CLM opened at $12.82 on Friday. Cornerstone Strategic Value Fund Inc. has a twelve month low of $12.56 and a twelve month high of $16.24.

The firm also recently announced a monthly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be paid a $0.2365 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $2.84 dividend on an annualized basis and a yield of 22.14%.

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.

Recommended Story: How to Track your Portfolio in Google Finance

Want to see what other hedge funds are holding CLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cornerstone Strategic Value Fund Inc. (NYSEAMERICAN:CLM).

Institutional Ownership by Quarter for Cornerstone Strategic Value Fund (NYSEAMERICAN:CLM)

Receive News & Ratings for Cornerstone Strategic Value Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cornerstone Strategic Value Fund and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply