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.

Cornerstone Total Return Fund Inc

NEW YORK, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Cornerstone Strategic Value Fund, Inc. (NYSE American: CLM) (CUSIP: 21924B302) and Cornerstone Total Return Fund, Inc. (NYSE American: CRF) (CUSIP: 21924U300), (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 2023 and Distribution Percentage for 2024

CLM has a yield of 17% based on the declared distributions. I continue my series digging into CEFs beyond the yield with a look at CLM. I will use the same metrics in this update following my previous coverage in January. With a total return on NAV over the last 12 months of just 12.5% it doesn't look like the distribution, with a yield on NAV over 26%, is fully covered.

Evaluating CEFs: Does CLM Cut The Distribution Yet Again

Cornerstone Strategic Value Fund is a highly controversial fund with its ever-declining share price and 4-star Morningstar rating. The fund's performance relies on it trading at a premium to its NAV, a situation that may or may not continue indefinitely, potentially impacting the lucrative reinvestments for investors. Investors need to ensure their broker supports reinvestments at NAV price, as most of the fund's performance comes from its NAV premium, and pay attention to the fund's NAV premium situation, which will drive its performance.

CLM Only Works If It Can Maintain Its NAV Premium

Equity CEFs: The Irony Of The Cornerstone Funds CLM And CRF

The Cornerstone funds (CLM) and (CRF) tend to trade at some of the highest market price premiums of all CEFs, generally from +10% to as high as +60% historically. The reasons for the premium valuations have to do with their incredibly high market yields, currently around 18% as well as during their Rights Offerings, when the premiums can rise and fall precipitously.

Equity CEFs: Are Cornerstone's CLM And CRF Funds Cheap Now?

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Alpine Global Dynamic Dividend Fund

Aberdeen Standard Global Infr Inc Fd

BlackRock Science & Technology

Calamos Global Total Return Fund

Delaware Investments Dividend and Income Fund

Delaware Enhanced Global Dividend & Income Fund

Eagle Point Credit

Virtus Stone Harbor Emerging Markets Income Fund 

Stone Harbor Emerging Markets Total Income Fund

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

Eaton Vance Tax-Advantaged Bond & Opportunity Stategies Fund

Western Asset Global Corp Defined Opportunity Fund Inc

Gabelli Utility Trust

Ivy High Income Opportunities Fund

Nuveen Mortgage Opportunity Term Fund

KKR Income Opportunities Fund

BNY Mellon Strategic Municipals, Inc.  

Macquarie Global Infrastructure Total Return Fund Inc

Neuberger Berman Intermediate Municipal Fund Inc

Nuveen Dynamic Municipal Opportunities Fund

Oxford Lane Capital

17 out of 22 CEF sectors positive on price and 18 out of 22 sectors positive on NAV last week. RSF offering results.

Weekly Closed-End Fund Roundup: DEX Tender Offering Expires (February 5, 2023)

BlackRock Innovation & Growth Trust

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund

It was back in November of 2012, yes, over a decade ago, that I wrote my first article discussing the benefits of high Return of Capital (ROC) in equity CEF distributions. Back then, I first wrote (link below) about the risks and tax-differences between high ROC in equity based CEFs vs tax-free distributions in municipal bond CEFs.

Equity CEFs: The Best Return Of Capital Funds For 2023 (And A Look At BIGZ, CLM And ETW)

CLM has a yield of 18.92% (based on the declared distributions for the next 12 months). This is attractive if the distribution can be supported. I continue my series digging into CEFs beyond the yield with a look at CLM.

Evaluating CEFs: CLM After Distribution Reduction Still Has Weak Coverage

BlackRock Energy and Resources Trust

Eaton Vance Tax Advantaged Global Dividend Opportunities Fund

abrdn Healthcare Investors 

PIMCO Corporate & Income Opportunity Fund

Cohen And Steers Total Return Realty Fund

Cohen & Steers Quality Income Realty Fund

Closed-end funds are great income investments thanks to tax laws and tradition. Being required to pay out most of their taxable gains explains a lot about how CEFs act.

How To Use CEFs For A Rich Retirement

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Doubleline Opportunistic Credit Fund

BNY Mellon Municipal Bond Infrastructure Fund, Inc. 

Western Asset Mortgage Opportunity Fund

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Eaton Vance National Municipal Opportunities Trust

First Trust / Aberdeen Emerging Opportunity Fund

Eagle Capital Growth Fund Inc

Gabelli Healthcare & Wellness Trust

Nuveen Core Equity Alpha Fund

Nuveen California Select Tax-Free Income Portfolio

OFS Credit Company Inc

PCM Fund

PIMCO Dynamic Income Opportunities Fund

2 out of 23 CEF sectors were positive on price and 2 out of 23 sectors were positive on NAV last week. VFL offers tender results.

Weekly Closed-End Fund Roundup: VFL Tender Results (December 18, 2022)

Gabelli Multimedia Trust

Don't believe for one second that any fund that doesn't cut its distribution, particularly with an astronomical 23.5% NAV yield, deserves a high premium. Because despite having the worst NAV performance of any CEF this year, down -44.4%, the Gabelli Multimedia Fund (GGT), did NOT cut its distribution even though it was supposed to.

Equity CEFs: Got High NAV Yield? Time To Really Swap GGT For CLM Or CRF

San Juan Basin Royalty Trust

If you buy the right ultra-yield blue chip you can retire rich. If you buy an ultra-yield trap you might not retire at all. Ultra-yield CEFs and royalty trusts are two dangerous kinds of investments that unsuspecting income investors and retirees often buy, and later deeply regret.

2 Dangerous Yield Traps That Could Kill Your Retirement

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Eaton Vance Enhanced Equity Income Fund

John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund

New American High Income Fund

BlackRock Corporate High Yield Fund

John Hancock Investors Trust

Virtus AllianzGI Convertible & Income Fund

Virtus AllianzGI Convertible & Income Fund II

Tortoise Energy Independence Fund, Inc.

Nuveen Missouri Quality Municipal Income Fund

Tortoise MLP Fund

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Pimco California Municipal Income Fund

Pimco Municipal Income Fund II

Pimco California Municipal Income Fund III

RiverNorth Opportunities Fund, Inc.

Tortoise Power and Energy Infrastructure Fund

Tortoise Pipeline & Energy Fund

Tortoise Energy Infrastructure

Virtus Total Return Fund

12 out of 23 CEF sectors positive on price and 6 out of 23 sectors positive on NAV last week. Tortoise offer tender results.

Weekly Closed-End Fund Roundup: Tortoise Tender Results, NCZ Resumes Distributions (November 6, 2022)

NEW YORK, Nov. 04, 2022 (GLOBE NEWSWIRE) -- Cornerstone Strategic Value Fund, Inc. (NYSE American: CLM) (CUSIP: 21924B302) and Cornerstone Total Return Fund, Inc. (NYSE American: CRF) (CUSIP: 21924U300), (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 2023.

Cornerstone Funds Announce Continuing Monthly Distributions and Reset Distribution Amounts for 2023

John Hancock Financial Opportunities Fund

SPDR Dow Jones Industrial Average ETF

Wells Fargo Utilities and High Income Fund

John Hancock Tax-Advantaged Global Shareholder Yield Fund

Voya Global Advantage and Premium Opportunity Fund

SPDR S&P 500 ETF Trust

abrdn Life Sciences Investors 

During a week in which Microsoft, Alphabet, Meta Platforms and Amazon dropped an average -12.1% after their earnings, one would think the Nasdaq-100 would be close to its YTD low. But instead, the Nasdaq-100 soared +3.1% on Friday as investors disregarded those disappointing tech company earnings earlier in the week and instead focused on Apple's earnings.

Equity CEF Performances: Updated Through Oct. 28, 2022

Eaton Vance Tax-Advantaged Global Dividend Income Fund

Gabelli Equity Trust

Gabelli Convertible and Income Securities Fund

Madison Fund

Nuveen Arizona Quality Municipal Income Fund

Nuveen Municipal Credit Opportunities Fund

Putnam High Income Securities Fund

Columbia Seligman Premium Technology Growth Func Inc

Delaware Investments

0 out of 23 CEF sectors are positive on price and 0 out of 23 sectors are positive on NAV over the last week. BlackRock CEFs are repurchasing their shares.

Weekly Closed-End Fund Roundup: BlackRock CEFs Repurchasing Shares (October 16, 2022)

Cornerstone Strategic Value Fund is a closed-end diversified management company with an apparent 25% dividend yield. Distributions are announced through the end of the year as well as guidance about how 2023 distributions will be set based on NAV at the end of October 2022.

Cornerstone Strategic Value Fund: Expect A 2023 Distribution Cut

In this article, I will go over the difference between CLM and CRF as well as their basic characteristics. In my opinion, despite their dividend yields of 24%+, both funds are only suitable for speculation and not for investment.

CLM And CRF: Still Too Expensive To Buy Now

In the rare-air world of premium priced closed-end funds (CEFs), Gabelli and Cornerstone are two fund sponsors who often have CEFs at over +20% market price premiums. Considering 4 out-of-the-less than 10 CEFs out of 450 that trade at 20%+ premiums come from Gabelli (GAMCO) and Cornerstone, you wonder if this is based on performance or yield?

Equity CEFs: Got High Yield? Swap GGT For CLM And Get A Lot More

NEW YORK, Aug. 12, 2022 (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 2022 and Distribution Percentage for 2023

CLM and CRF's rights offerings were oversubscribed. The rights offerings were a success for managers and oversubscribers alike.

CLM And CRF Rights Offerings: A Success For Managers And Oversubscribers Alike

BlackRock Capital Allocation Trust

BlackRock Science and Technology Trust II

Eaton Vance Tax-Managed Buy-Write Income Fund

Micron Technology

Nuveen AMT-Free Municipal Credit Income Fund

Nuveen Municipal Credit Income Fund

VanEck Vectors Semiconductor ETF

The worst half to a year in a half-century is over, with the S&P 500 down -20.0% through June 30. What's in store for the second half? Well, that depends on whose advice you trust, and frankly, there's something for everyone, from bullish recoveries to end-of-the-world type scenarios.

Equity CEF Performance: Updated Through July 1, 2022

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

News for Cornerstone Strategic Value Fund Inc ETF (CLM)