Cornerstone Strategic Investment Fund Stock Price, News & Analysis

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.

The Cornerstone Strategic Value Fund (CLM) announced the successful completion of its one-for-three rights offering, which concluded on May 14, 2021. The offering was over-subscribed, with approximately $420 million in requests for shares at a subscription price of $10.64. This price was lower than the initially estimated $10.88. Newly issued shares will not participate in the Fund's May distribution. The shares are set to be issued on May 20, 2021, and the Fund is registered under the U.S. SEC.

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The Cornerstone Total Return Fund (CRF) announced a 1-for-3 rights offering for stockholders, contingent on SEC approval, with a record date of April 16, 2021. Stockholders will receive non-transferable rights to subscribe for 13,751,029 shares. Each right allows the purchase of one share at a price based on either 107% of the NAV or 80% of the market price. The subscription period starts after the record date, ending on May 14, 2021. Shares issued will not qualify for the May distribution. This offering is subject to regulatory approvals.

Cornerstone Strategic Value Fund (NYSE: CLM) has announced a 1-for-3 rights offering subject to SEC approval, with a record date of April 16, 2021. Stockholders will receive non-transferable rights to subscribe for 26,029,753 shares, with the subscription price determined based on the greater of 107% of net asset value or 80% of market price. The subscription period starts after the record date and ends on May 14, 2021. Shareholders exercising rights will not receive the May 2021 distribution for newly purchased shares. The offering is subject to customary regulatory approvals.

Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) have filed their annual reports on Form N-CSR with the SEC, featuring audited financial statements for the fiscal year ended December 31, 2020. These reports are accessible online and can be requested for free. Both funds are closed-end, diversified management companies registered under the Investment Company Act of 1940. Investors are reminded that past performance does not assure future results, and investments are subject to market risks, often trading at discounts from their net asset values.

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Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) announced monthly distribution rates for 2021, maintaining a stable policy with a 21% annualized distribution percentage of net asset value. Each fund will pay $0.1602 per share for CLM and $0.1537 for CRF from January to March 2021, with record dates prior to the payment dates. Distributions may include earnings, capital gains, or return-of-capital. Shareholders can opt for cash distributions or reinvest through a dividend reinvestment plan.

Cornerstone Strategic Value Fund (NYSE: CLM) has announced its monthly distribution policies for 2020. The fund will maintain a distribution percentage of 21% of its net asset value, unchanged from 2019. For October, November, and December 2020, the distribution per share will be $0.1853. The distribution policy aims to provide regular returns to stockholders, enabling options for cash or reinvestment. However, a substantial part of distributions may be returns of capital, not tied to investment income, affecting fund liquidity.