Rivernorth Capital Management LLC Sells 1,407,864 Shares of Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM)

Rivernorth Capital Management LLC decreased its position in Cornerstone Strategic Value Fund, Inc. (NYSEAMERICAN:CLM) by 70.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 597,293 shares of the investment management company’s stock after selling 1,407,864 shares during the quarter. Rivernorth Capital Management LLC’s holdings in Cornerstone Strategic Value Fund were worth $4,587,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CLM. TrueMark Investments LLC purchased a new stake in Cornerstone Strategic Value Fund in the 2nd quarter valued at about $4,500,000. Strategic Financial Concepts LLC lifted its holdings in Cornerstone Strategic Value Fund by 800.0% during the second quarter. Strategic Financial Concepts LLC now owns 509,390 shares of the investment management company’s stock worth $39,000 after acquiring an additional 452,790 shares during the period. Sea Otter Advisors LLC bought a new stake in shares of Cornerstone Strategic Value Fund during the 2nd quarter worth $3,850,000. Quarry LP grew its position in Cornerstone Strategic Value Fund by 1.0% during the third quarter. Quarry LP now owns 474,958 shares of the investment management company’s stock valued at $3,648,000 after buying an additional 4,712 shares during the period. Finally, Cetera Investment Advisers increased its holdings in Cornerstone Strategic Value Fund by 64.0% during the second quarter. Cetera Investment Advisers now owns 457,175 shares of the investment management company’s stock worth $3,520,000 after buying an additional 178,437 shares during the last quarter.

Cornerstone Strategic Value Fund Trading Up 1.6 %

Shares of CLM opened at $8.67 on Friday. Cornerstone Strategic Value Fund, Inc. has a 1 year low of $6.50 and a 1 year high of $9.30.

Cornerstone Strategic Value Fund Dividend Announcement

The company also recently declared a — dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.1224 dividend. This represents a yield of 18.1%. The ex-dividend date is Friday, March 14th.

About Cornerstone Strategic Value Fund

Cornerstone Strategic Value Fund, Inc is a closed-ended equity mutual fund launched and managed by Cornerstone Advisors, LLC. 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.