The name of the stock is Cornerstone Strategic Value Fund, (CLM)
As I have mentioned earlier, I use multiple brokerage accounts and this morning before the market opened, I just purchased a sizable number of additional shares of this stock through both of my brokerage accounts.
BUT, this is a long term stock for me.
The reason for that statement is the current share price is around between $8.25 to $8.30 per share and the dividend it pays is $0.18.08 per share.
The last time I added to my position of this particular stock was back in JUNE of this year when I bought some shares at $8.26 per share. Since that time it has gone up as high as $10.89 per share, but I did NOT sell it.
The primary reason I hold on to this stock is because it is a great LONG TERM INVESTMENT for me that pays me $18.08 per month on every 100 shares of stock I own.
Now, lets look at some numbers.
Bt the end of this month, since back in June when I purchased some shares of this stock at $8.26 per share, the total amount of dividends I will have comes to $108.48 in six months. Per year, that comes to $216.96 per hundred shares.
So, if we take an investment of $826 per 100 shares that gives us $216.96 per year in dividends, you can easily see that in 4 years we would receive $867.84 just in dividends and still have our stocks.
Now, I would caution you on one fact. When it comes to dividend stocks, some companies can change the dividend amount they pay, anytime they want to. So, before you EVERY buy a stock based on the amount of dividends they pay, I strongly suggest that you check out the website, https://www.dividendchannel.com where you can see how often the dividend amounts change for any stock you want to purchase.
Above is a section of the dividend history for CLM
Now, as with any stock tips I share, I strongly encourage you to do your own research.
CLM is based out of Cincinnati, OHCornerstone Strategic Value Fund, Inc. (the Fund) is a closed-end, diversified management investment company.
The Fund's investment objective is to seek long-term capital appreciation through investment primarily in equity securities of United States and non-United States companies.
The Fund invests in various sectors, such as information technology, health care, consumer discretionary, financials, communication services, closed-end funds, industrials, consumer staples, exchange-traded funds (ETFs), materials, real estate, and others.
The Fund invests in companies of all capitalization ranges. The Fund invests in common stocks and also invests in preferred stocks, rights, warrants and securities convertible into common stocks that are listed on stock exchanges or traded over the counter.
The Fund also invests without limitation in other closed-end investment companies and ETFs. The Fund's investment manager is Cornerstone Advisors, LLC.
I am also attaching a pdf file containing one of their filing with the Securities and Exchange Commission from this past June of 2022.
This chart above is a 5 year stock price chart for CLM. Unlike stocks that I trade, where I always try to buy them on the upswing, with high dividend stocks, I try to buy them when they are down real low, especially if the reason they are down is because the entire market is down due to some National or World Wide Event.