Cornerstone Strategic Investment Fund Stock Price, News & Analysis

Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) have submitted their annual reports for the fiscal year ending December 31, 2022, to the SEC. These reports include audited financial statements and are available online at their respective websites. Both funds operate as closed-end, diversified management companies, and are registered under the Investment Company Act of 1940. Investors should be aware that the shares may trade at a discount to their net asset value and should carefully consider investment risks. Past performance does not guarantee future results, and the funds are subject to market risks.

Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) have announced monthly distributions for 2023, maintaining a policy that reflects 21% of each fund's net asset value. CLM and CRF will distribute $0.1228 and $0.1173 per share, respectively, for January through March 2023. These distributions are not a reflection of investment returns and may include a return of capital, affecting the basis of shares. There are risks associated with these distributions, including potential declines in total assets if investment returns do not meet payout levels.

Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) announced monthly distributions as part of their ongoing distribution policy. Both funds will maintain a distribution percentage of 21% for 2023, unchanged from the prior year. Upcoming distributions are set at $0.1808 per share for CLM and $0.1734 for CRF from October through December 2022. The actual monthly distribution amounts for 2023 will be determined based on each Fund's net asset value at the end of October 2022.

Cornerstone Strategic Value Fund (NYSE American: CLM) successfully completed its one-for-three rights offering, which expired on June 10, 2022, with the offering being over-subscribed. Stockholders could purchase one newly issued share for every three rights held at a subscription price of $8.27, lower than the initial estimate of $10.09. The Fund received requests for approximately $783 million in shares and plans to issue newly subscribed shares by June 16, 2022. However, these shares will not be eligible for distributions in June.

Cornerstone Strategic Value Fund (NYSE American: CLM) has resumed its suspended rights offering effective May 23, 2022, extending the expiration date to June 10, 2022. This follows a decline in the fund's net asset value from $9.01 to $7.76. Stockholders will receive non-transferable rights to subscribe for 40,511,576 shares of common stock at a price determined by the higher of 112% of the net asset value or 65% of the market price on the expiration date. Subscription requests submitted prior to the suspension have been canceled, requiring new requests to participate.