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Cornerstone Strategic Value Fund Inc (CLM)

NYSE
Currency in USD
Disclaimer
7.49
+0.04(+0.54%)
Real-time Data

CLM Comments

If this is levered to the SPX then how is it that this hasn't gone anywhere in 900 points?
I agree that it is under performing and if the S&P crashes, CLM will too along with everything else. It's my opinion that this fund is for people who are retired. If you have 100,000 shares of CLM worth $720,000 today, you will receive $11,447 in a month's dividend. That is 1,547 new shares. If you sell half to pay bills and reinvest the other shares, then your monthly payout will increase month over month. If you bought $720,000 worth of SPY, the S&P fund, that would be 1,410 shares at todays price. If you had to sell 10 shares of SPY to pay bills every month, you would run out of shares in 10 years or so depending on the price of SPY. In hindsight, I would have been better off buying a dip in SPY until retirement age, then transferring it to CLM. FYI there is way more information on CLM on the seeking alpha website. The articles are not very good but lots of good comments.
Thanks I am on SA too Ive read a lot of them. Good point about the divi though that is a lot of money per month if thats accurate for less than 1 million invested. I could easily live off 11000 per month. You sure its not per quarter?
It's a monthly dividend. I have received the dividend every month since June of 2022. My shares are reinvested at the NAV price of 6.99, but that price changes every month. I received $2695 last month, that money was reinvested at 6.99 in the form of 385 new shares. I could sell those shares today at the 7.43 CLM price. As the premium increases, the payout gets bigger. The premium is currently around 5%. Lots of times, it 20 or 30%. You have to set up the reinvestment at NAV feature up with your broker unless you have Fidelity. With Fidelity, you can just click the reinvestment button.
buy and hold
Sell all shares when rights offering occurs, buy when over.
How do you know when that is in advance?
CLM likes to reverse split followed by share dilution. Anyone explain how to make money from this if you just buy and hold? Sure you can make money by trading it, but how would a buy and hold strategy make money rather than lose money if you hold long enough?
Corp DRIP happens at NAV. 20% gain every month. Sell everything when share sale is announced, then rebuy after sale is over.
dollar cost average is key
You should be doing that automatically by dripping
Not if they do reverse split without adjusting the dividend to make up for it.
If you have shares of CLM, and reinvest the dividend, be sure your broker is buying the reinvested shares at the NAV price. The current NAV price is 7.15. The stock price is 8.47. Reinvesting at NAV price is the only way this stock makes sense to own.
Keep in mind the difference between growth stock and dividend goals. Price drop over time may be negligible as long as dividend pay out remains constant.
Good point
Good point.
I see that CLM does reverse split when the price gets too low. If you have 1000 shares and collect let's say $0.10 per share and they do a reverse split 1:4 that means your 1000 shares become 250 shares and if you still collect 10 cents or similar you end up losing over time.
the price drop just doesn't justifies the dividends . You will lose more money on the prise than you will ever make on the dividends.
Not if you sell this for more than you purchased it for. My average buy price is 9.00 its around 9.28..if it goes below 9 on ex date and it doesnt look like it will recover then it may be time to cut your losses but if its at 8.65-8.70 I would stay in and hopefully a future rebound and the monthy distribution payout will exceed losses of initial investment The rights offering in March or April..gotta find that out..is when this thing tanks...that would be the time to buy CLM back cheaper with more monthly distributions..rinse and repeat..
sorry guys, duplicate massage as below
any government tax on this dividend stock and others stock, how many percent?
I believe this one is taxed at income %
I believe this one is taxed at income %
any government tax on this dividend stock and others stock, how many percent?
any government tax on this dividend stock and others stock, how many percent?
Buy the dip!
Should i sell off or buy in dip?
Buy the dip, after all you r in it for dividends, Right?
not easy to find good entry point in this, any opinion?
do it on ex-divvy date or day after
I felt a selloff was coming but I did not expect it to be this extreme!
I just bought in lol. should I have not?
I bought under 11 with dividends reinvested
Bought under 9 no drip .
not bad
Good income fund
All around good play
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