Cornerstone Strategic Value Fund, Inc. Announces Name Change
Rhea-AI Summary
Cornerstone Strategic Value Fund (NYSE: CLM) announced its name will change to Cornerstone Strategic Investment Fund, effective December 6, 2024. The Board of Directors approved this change, while maintaining the fund's existing investment objective, policies, and restrictions. The fund's ticker symbol (CLM) and CUSIP number (21924B302) will remain unchanged. CLM continues to operate as a closed-end, diversified management company registered under the Investment Company Act of 1940, with Cornerstone Advisors, serving as its investment manager.
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NEW YORK, Nov. 22, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Cornerstone Strategic Value Fund, Inc. (NYSE American: CLM) (CUSIP: 21924B302) (“CLM”) has approved a change to the name of CLM. This change will become effective December 6, 2024.
CLM’s name will change from “Cornerstone Strategic Value Fund, Inc.” to “Cornerstone Strategic Investment Fund, Inc.” There will be no changes to CLM’s investment objective, investment policies or restrictions in connection with this name change. In addition, CLM’s ticker symbol and CUSIP number will not change.
CLM is a closed-end, diversified management company organized as a Maryland corporation and is registered with the U.S. Securities and Exchange Commission under the Investment Company Act of 1940, as amended.
Cornerstone Advisors, LLC serves as the investment manager to CLM.
Past performance is no guarantee of future performance. An investment in CLM is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. A stockholder should carefully consider CLM’s investment objective, risks, charges and expenses. Please read CLM’s disclosure documents before investing.
In addition to historical information, this release contains forward-looking statements, which may concern, among other things, domestic and foreign markets, industry and economic trends and developments and government regulation and their potential impact on CLM’s investment portfolio. These statements are subject to risks and uncertainties, including the factors set forth in CLM’s disclosure documents, filed with the U.S. Securities and Exchange Commission, and actual trends, developments and regulations in the future, and their impact on CLM could be materially different from those projected, anticipated or implied. CLM has no obligation to update or revise forward-looking statements.
FAQ
When will Cornerstone Strategic Value Fund (CLM) change its name?
Will CLM's ticker symbol change after the name change in December 2024?
Does the 2024 name change affect CLM's investment objectives or policies?
