Cornerstone Strategic Value Fund Inc

Cornerstone Strategic Value Fund, Inc. is a closed-end investment company, which enagages in the objective of seeking long-term capital appreciation through investment primarily in equity securities of U.S. and non-U.S. companies. The company was founded in May 1987 and is headquartered in Cincinnati, OH.

Cornerstone Strategic Value Fund is a management investment company that is an investment operation. They limit the fund's investment in securities issued by other investment companies.

NEW YORK, June 13, 2022 (GLOBE NEWSWIRE) -- Cornerstone Strategic Value Fund, Inc. (the “Fund”) (NYSE American: CLM) (CUSIP: 21924B302) is pleased to announce the completion of its one-for-three rights offering which expired on Friday, June 10, 2022 (the “Offering”). The Offering was over-subscribed. Under the terms of the Offering, record date stockholders were entitled to purchase one newly issued share of common stock of the Fund for every three rights held. The subscription price for each newly issued share was determined to be $8.27 which, under the terms of the prospectus, was equal to the greater of (i) 112% of net asset value per share as calculated at the close of trading on the date of expiration of the Offering and (ii) 65% of the market price per share at such time.

Cornerstone Strategic Value Fund, Inc. Announces Completion Of Rights Offering

NEW YORK, May 23, 2022 (GLOBE NEWSWIRE) -- Cornerstone Strategic Value Fund, Inc. (the “Fund”) (NYSE American: CLM) (CUSIP: 21924B302) announced today that the subscription period for its previously suspended rights offering for shares of the Fund's common stock (the "Rights Offering") will resume on Monday, May 23, 2022 and the expiration date will be extended so that the Subscription Period will expire at 5:00 p.m., New York time, on Friday, June 10, 2022, unless further extended by the Fund (the “Expiration Date”). The original record date will continue to be April 18, 2022.

Cornerstone Strategic Value Fund, Inc. Announces the Resumption of its Rights Offering and Change in June 2022 Distribution Record Date

NEW YORK, May 16, 2022 (GLOBE NEWSWIRE) -- Cornerstone Strategic Value Fund, Inc. (NYSE American: CLM) (CUSIP: 21924B302) (the “Fund”) announced today that the rights offering of shares of the Fund's common stock (the "Rights Offering") will be suspended until further notice.

Cornerstone Strategic Value Fund, Inc. Announces the Suspension of its Rights Offering

NEW YORK, April 08, 2022 (GLOBE NEWSWIRE) -- Cornerstone Strategic Value Fund, Inc. (NYSE American: CLM) (CUSIP: 21924B302) (the “Fund”) announced today, contingent upon final approval from the U.S. Securities and Exchange Commission, that it has fixed the close of business on April 18, 2022 as the record date (the “Record Date”) for determination of stockholders entitled to participate in the Fund's 1-for-3 rights offering. The Fund is issuing to its stockholders non-transferable rights entitling the holders to subscribe for an aggregate of 40,511,576 shares of common stock. Each stockholder will receive one non-transferable right for each share of the Fund held as of the Record Date.  Fractional Shares will not be issued upon the exercise of the Rights. Accordingly, the number of Rights to be issued to a Stockholder on the Record Date will be rounded up to the nearest whole number of Rights evenly divisible by three. For every three rights a stockholder receives, he or she will be entitled (but not required) to purchase one new share of the Fund at a subscription price equal to the greater of (i) 112% of net asset value per share as calculated at the close of trading on the expiration date of the offering or (ii) 65% of the market price per share at such time.  Fractional shares will not be issued.  In addition to the shares offered in the primary subscription, the Fund may offer a 100% over-allotment to oversubscribing stockholders.  Stockholders who fully subscribe in the primary offering will have the option to oversubscribe for additional shares, to the extent available.

Cornerstone Strategic Value Fund, Inc. Announces Rights Offering

Cornerstone Strategic Value Fund's diversified portfolio has done remarkably well in terms of value appreciation.

Cornerstone Strategic Value Fund: Why I Maintain My Sell Rating

CLM has a yield of 15.5%. This is very attractive if the distribution can be supported.

Evaluating CEFs: CLM Does Another Rights Offering

Cornerstone Strategic Value Fund is a high dividend-yield fund with an estimated yield of over 15% for the coming year. The fund is financing its distribution through unsustainable Return on Capital, rather than through dividend and interest income, etc.

Cornerstone Strategic Value Fund: Overpayments Depleting The NAV

Liberty All-Star Growth Fund

Bancroft Fund Ltd

BlackRock Virginia Municipal Bond Trust

Boulder Growth & Income Fund

Blackrock Long-Term Municipal Advantage Trust

Virtus AllianzGI Convertible & Income 2024 Target Term Fund

Eaton Vance California Municipal Income Trust

MFS Intermediate High Income Fund

Cornerstone Total Return Fund Inc

MFS High Income Municipal Trust

MFS Investment Grade Municipal Trust

BNY Mellon High Yield Strategies Fund 

Eaton Vance Risk-Managed Diversified Equity Income Fund

Eaton Vance

Eaton Vance Short Duration Diversified Income Fund

Eaton Vance California Municipal Bond Fund

Franklin Limited Duration Income Trust

Gabelli Equity Trust

Templeton Global Income Fund

Eagle Capital Growth Fund Inc

abrdn Healthcare Investors 

abrdn Life Sciences Investors 

John Hancock Tax-Advantaged Global Shareholder Yield Fund

John Hancock Investors Trust

4 out of 24 CEF sectors positive on price and 2 out of 24 sectors positive on NAV last week. Date for PIMCO merger of PCI and PKO into PDI announced.

Weekly Closed-End Fund Roundup: November 28, 2021

BlackRock 2022 Global Income Opportunity Trust

BlackRock Utilities Infrastructure & Power Opportunities Trust

Central Securities

BNY Mellon Municipal Bond Infrastructure Fund, Inc. 

Angel Oak Financial Strategies Income Term Trust

General American Investors

GGM Macro Alignment ETF

Gabelli Go Awhr Registered Shs

Guggenheim Strategic Opportunities Fund

Guggenheim Enhanced Equity Income Fund

Gabelli Utility Trust

Highland Income Fund

New American High Income Fund

Western Asset Investment Grade Defined Opportunity Trust

Nuveen Diversified Dividend And Income Fund

Nuveen Tax-Advantaged Total Return Strategy Fund

Nuveen Tax-Advantaged Dividend Growth Fund

Barings Corporate Investors

Barings Participation Investors

Mexico Equity & Income Fund Inc

Nuveen Municipal Value Fund Inc

15 out of 24 CEF sectors positive on price and 6 out of 24 sectors positive on NAV last week. PCF and RIV rights offering results.

Weekly Closed-End Fund Roundup: PCF, RIV Rights Offering Results, Guggenheim Mergers Completed (November 14, 2021)

Clearly, Cornerstone and the Cornerstone funds have tapped into a bonanza that has less to do with exceptional portfolio management and more to do with investor weakness for income. Cornerstone has figured out that investors cannot say no to funds that offer 21% yields, no matter how improbable their funds could actually cover those yields.

Equity CEFs (CLM And CRF): Heck, Just Put Cornerstone In Charge Of All CEFs

NEW YORK, Nov. 05, 2021 (GLOBE NEWSWIRE) -- Cornerstone Strategic Value Fund, Inc. (NYSE American: CLM) and Cornerstone Total Return Fund, Inc. (NYSE American: CRF), (individually the “Fund” or, collectively, the “Funds”), each a closed-end management investment company, announced that in keeping with each Fund's previously adopted monthly distribution policy, each Fund is declaring the following distributions, which have been reset for the calendar year 2022.

Cornerstone Funds Announce Continuing Monthly Distributions and Reset Distribution Amounts for 2022

Has a yield of 14.6%. This is attractive if the distribution can be supported.

Evaluating CEFs: CLM Had A Good Year, But Is Still Overpaying Its Distribution

Chevron

Enterprise Products Partners

Kraft Heinz

KNOT Offshore Partners

Lockheed Martin

LTC Properties

Altria

M&T Bank

People's United Financial

Global X NASDAQ 100 Covered Call ETF

Global X Russell 2000 Covered Call ETF

AT&T

United Bankshares

Exxon Mobil

July 27-August 30, 2021 readers mentioned 40 equities in their comments. Some lamented bad-news, some bad-news investments (rogues) mixed with (mostly) favorites. (Hence, these are the ReFa/Ro.). Ten analyst-target-estimated TOP-NET-GAIN reader faves & rogues, LTC, MTB, LMT, T, XOM, UBSI, KHC, PBCT, CVX, & EPD averaged 26.43% net gains from data collected 8/30/21.

40 Reader Favorites And Rogues 7/23-8/30/21 Reveal 18 Ideal Dividend Dogs, Ready To Run

Center Coast Brookfield MLP & Energy Infrastructure Fund

NexPoint Strategic Opportunities Fund

Neuberger Berman MLP Income Fund, Inc.

NexPoint Real Estate Finance

Tortoise MLP Fund

PIMCO Dynamic Income Opportunities Fund

PIMCO Income Strategy Fund

PIMCO Income Strategy Fund II

Pimco Income Opportunity Fund

Salient Midstream & MLP Fund

Cushing MLP & Infrastructure Total Return Fund

Tortoise Energy Infrastructure

Funds at the largest discounts don't necessarily make great investments, with several of the deepest discounted funds worth avoiding.

Discounts And Premiums Not All Created Equal

The fund will rarely "cover" the yearly reset distribution of 21% of NAV, and will have destructive Return of Capital. That being said, total returns have been substantial, and opportunities to buy closer to NAV through DRIP or Rights Offerings have been very profitable.

CLM Is Not As Scary As You Think It Is

NEW YORK, Aug. 06, 2021 (GLOBE NEWSWIRE) -- Cornerstone Strategic Value Fund, Inc. (NYSE American: CLM) and Cornerstone Total Return Fund, Inc. (NYSE American: CRF), (individually the “Fund” or, collectively, the “Funds”), each a closed-end management investment company, announced that in keeping with each Fund's previously adopted monthly distribution policy, each Fund is declaring the following distributions:

Cornerstone Funds Announce Continuing Monthly Distributions for 2021 And Distribution Percentage for 2022

When picking CEFs, we always need to look past those big yields.

These 2 Little-Known Moves Can Send Shares Soaring

Blackrock Health Sciences Trust

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund

Clough Global Opportunities Fund

Clough Global Equity Fund

Clough Global Dividend and Income Fund

Morgan Stanley

Oxford Lane Capital

Oxford Lane Capital Corp 6.75 % Cum Red Pfd Shs Series -2024-

Oxford Lane Capital Corp 7 1/2 % Term Cum Pfd Shs Series -2023-

Brookfield Real Assets Income Fund

Cohen & Steers Quality Income Realty Fund

We recently touched on rights offerings and tender offers, and today we'll discuss at-the-market offerings.

At-The-Market Offerings Are A Win-Win

SPDR S&P 500 ETF Trust

abrdn World Healthcare Fund 

Reaves Utility Income Fund

Utilities Select Sector SPDR Fund

There are several dates a closed-end fund investor should watch for when a CEF they own start a rights offering. Rights offerings are typically disruptive to the price and a dip in price is typical.

Here Are The Dates You Need To Know For A Rights Offering

The Cornerstone CEF rights offerings concluded and were a massive success (for managers). Shareholders experience a small boost to NAV/share, but significant declines in share price over the rights offering period.

CLM And CRF: Rights Offerings Post-Mortem And What To Do Going Forward

Virtus Artificial Intelligence & Technology Opportunities Fund

BlackRock Capital Allocation Trust

BlackRock Science & Technology

BlackRock Science and Technology Trust II

BlackRock Enhanced Capital and Income Fund

SPDR Dow Jones Industrial Average ETF

ProShares UltraShort QQQ

Invesco QQQ

Teladoc

Tesla

Vanguard Total Stock Market ETF

The proverbial shot-across-the-bow came last week as the markets finally reacted to inflation fears as reflected in the sizzling CPI (Consumer Price Index) and PPI (Producer Price Index) numbers.

Equity CEF Performances: Updated Through May 14, 2021

NEW YORK, May 17, 2021 (GLOBE NEWSWIRE) -- Cornerstone Strategic Value Fund, Inc. (the “Fund”) (NYSE American: CLM) is pleased to announce the completion of its one-for-three rights offering which expired on Friday, May 14, 2021 (the “Offering”). The Offering was over-subscribed. Under the terms of the Offering, record date stockholders were entitled to purchase one newly issued share of common stock of the Fund for every three rights held. The subscription price for each newly issued share was determined to be $10.64 which, under the terms of the prospectus, was equal to the greater of (i) 107% of net asset value per share as calculated at the close of trading on the date of expiration of the Offering and (ii) 80% of the market price per share at such time.

Cornerstone Strategic Value Fund, Inc. Announces Completion of Rights Offering

Though CLM's forward dividend yield is attractive at 16.26%, its NAV and dividend payouts are diminishing year over year, which is a red alert for income investors. The fund is mostly focused on investing in growth stocks, and President Biden's new wealth tax proposals can trigger a flight from growth to value stocks.

Cornerstone Strategic Value Fund: The Math Just Doesn't Add Up

With a current yield of 15.7%, CLM seems quite attractive. I continue my series looking at CEFs by taking a second look at CLM.

Evaluating CEFs: CLM Rights Offering Will Delay Next Distribution Cut

CLM, a fund sponsored by Cornerstone, takes a unique approach to CEF strategy. The fund overpays its earnings with an unsustainable distribution, and regularly expands the size of the fund by rights offerings.

CLM: What To Do About The Rights Offering

News for Cornerstone Strategic Value Fund Inc ETF (CLM)