Cornerstone Strategic Investment Fund Stock Price, News & Analysis

The Cornerstone Strategic Value Fund (NYSE American: CLM) has announced the suspension of its Rights Offering due to a decline in net asset value exceeding 10%. The Fund's net asset value dropped from $9.01 on April 8, 2022, to $7.76 on May 13, 2022. Stockholders can cancel their rights exercise until the offering resumes, which will depend on favorable market conditions. There is no assurance the offering will resume.

Cornerstone Strategic Value Fund, Inc. (NYSE American: CLM) announced a rights offering set for record on April 18, 2022, providing stockholders with non-transferable rights to subscribe to 40,511,576 shares of common stock. For every three rights owned, stockholders can purchase one share at a price based on net asset value or market price. The subscription period opens post-record date and ends on May 20, 2022. No fractional shares will be issued, and those exercising rights will not receive the upcoming monthly distribution. The offering is subject to SEC approval.

Cornerstone Total Return Fund (NYSE American: CRF) announced a 1-for-3 rights offering for its stockholders, effective April 18, 2022. Stockholders will receive non-transferable rights to subscribe for up to 21,352,201 shares of common stock. Each holder will get one right per share owned. The subscription price will be determined based on either 112% of net asset value or 65% of the market price at expiration, whichever is greater. The subscription period ends on May 20, 2022, with shares issued within 15 days after the record date.

Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) have filed their annual reports on Form N-CSR with the SEC, detailing audited financial statements for the fiscal year ended December 31, 2021. These reports are accessible on their respective websites and available for free upon request. Both funds are closed-end diversified management companies registered under the Investment Company Act of 1940. Investors are reminded that past performance does not guarantee future results and that closed-end funds may trade at discounts to net asset value, carrying inherent market risks.

Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) have announced monthly distributions for 2022, remaining at $0.1808 and $0.1734 per share, respectively. Both funds maintain a distribution policy of 21% of their net asset value, unaffected by investment income or capital gains. Distributions may include return-of-capital, impacting shareholders' original investment cost basis. The funds emphasize regular distributions to enhance liquidity, with the option for reinvestment. Share repurchase programs may be implemented to increase shareholder value, though no guarantees exist regarding their impact.

Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) announced monthly distributions under their established policies. CLM will pay $0.1602 per share and CRF will pay $0.1537 per share for the months of October, November, and December 2021. The Boards confirmed that the distribution rate remains unchanged at 21% of net asset value for 2022. These distributions will consist of earnings, capital gains, or return-of-capital. The monthly distribution amount for 2022 may vary based on the funds' asset values.

Cornerstone Total Return Fund, Inc. (NYSE American: CRF) announced the successful completion of its one-for-three rights offering which expired on May 14, 2021. The offering was over-subscribed, with requests totaling approximately $215 million. Shares were priced at $10.23, lower than the initially estimated $10.73. Newly issued shares will not participate in the May 2021 distribution. Share issuance is anticipated on May 20, 2021. Investors are advised to consult their brokers for account specifics.