Cornerstone Strategic Value Fund (CLM)

[bar1080]

Scathing criticism of this collapsing fund:

"The name I'm looking at specifically today is Cornerstone Progressive Return Fund (CFP). This closed-end fund is trading at a 19% premium to its June 30th, 2012 NAV of $4.93. Looking into SEC filings investors could see that historically the majority of their 18.6% dividend is a simple return of capital. Investors are blindly buying what they think is a true 18.6% dividend. CFP currently pays a .091/share dividend every month, and their true NAV is now likely below 4.75/share now as of Sept 30th, 2012."

http://seekingalpha.com/article/913791-closed-end-funds-trading-at-premiums-to-nav-are-seeing-their-bubbles-burst?source=yahoo