Cornerstone Strategic Value Fund (CLM)

[Michael301981virgo]

Easiest trade on the planet premium maxed at 25% to 26% this year but look at how that nav is coming back. CLM was pounded in 2022 and now it looks like they're trying to recover the nav organically with a smaller premium.
Market price up,premium still below 10%.

While I dislike the fact that I belive market manipulation combined with market conditions led to the recent flush to the 6 range, it was a buying opportunity of a lifetime

The nav is in the same range as throughout the last quarter of 2022 and throughout 2023.

Interesting to note the smaller.CRF has a higher premium. For all we know know,we may be entering an era of smaller premiums,but with less coming out of the same nav, better nav performance with less c each month next year makes CLM sound bullish to me
From a nav of 6.09 to 6.65 in a month(6.77 without 0.1228 removed)-thats an 11% increase in nav after you've calculated the distribution with a premium under 10%.

Someone knew the price was going down-why else would one of the principals of the the firm sell near the top right before the premium evaporated? Sit &Associates reduced their stake by over 40% in CLM and CRF is you review the beneficial ownership reports on 2/7/23 vs 10/26/23
Quite frankly,I don't care if there is manipulation-as long I can still make money from it-when the premium to nav gets to 25%-26%,time to take some off the table even if it means missing thr top,in my opinion.
Without a rights offering this year,CLM is actually covering its distribution. When the nav was eroding and the premium expanding to 50 to 80%+,everyone was buying. Now the nav performance from 2022 to 2023 has improved and you have less people buying.