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Cornerstone Funds File Their Annual Reports
Globe Newswire (Fri, 1-Mar 9:00 AM ET)
Cornerstone Funds Announce Continuing Monthly Distributions and Change in March 2024 Payable Date
Globe Newswire (Mon, 12-Feb 9:00 AM ET)
The funds investment objective is to seek long-term capital appreciation through investment primarily in equity securities of U.S. and non-U.S. companies. The Fund is registered under the Investment Company Act of 1940, as amended, as a closed-end, diversified management investment company. Cornerstone Strategic Value Fund, Inc. (the “Fund”) was incorporated in Maryland on May 1, 1987 and commenced investment operations on June 30, 1987.
Cornerstone Strategic Value New trades on the AMEX stock market under the symbol CLM.
As of April 24, 2024, CLM stock price climbed to $7.29 with 835,007 million shares trading.
CLM has a beta of 1.31, meaning it tends to be more sensitive to market movements. CLM has a correlation of 0.47 to the broad based SPY ETF.
CLM has a market cap of $1.73 billion. This is considered a Small Cap stock.
In the last 3 years, CLM stock traded as high as $14.75 and as low as $6.25.
CLM has underperformed the market in the last year with a price return of +13.4% while the SPY ETF gained +24.1%. However, in the short term, CLM had mixed performance relative to the market. It has outperformed in the last 3 months, returning +7.0% vs +4.5% return in SPY. But in the last 2 weeks, CLM shares have been beat by the market, returning -3.7% compared to an SPY return of -1.7%.
CLM support price is $7.21 and resistance is $7.35 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CLM stock will trade within this expected range on the day.