Liberty All-Star Equity Fund (NYSE:USA) Short Interest Up 76.5% in June

Key Points

• Short interest surged 76.5% in June to 251,149 shares, though only about 0.1% of Liberty All-Star Equity Fund’s shares are currently sold short.
• The fund raised its quarterly dividend to $0.17 per share from $0.15, putting the annualized payout at $0.68 and the dividend yield at 11.7%.
• Liberty All-Star Equity Fund’s stock was trading down 3.1% and opened at $5.80, near its 50-day average and below its 52-week high of $6.85.

Liberty All-Star Equity Fund (NYSE:USA - Get Free Report) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 251,149 shares, an increase of 76.5% from the June 15th total of 142,318 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 1,659,295 shares, the short-interest ratio is presently 0.2 days.

Liberty All-Star Equity Fund Trading Down 3.1%

Liberty All-Star Equity Fund stock opened at $5.80 on Friday. The stock has a 50-day moving average price of $5.80 and a 200 day moving average price of $5.89. Liberty All-Star Equity Fund has a 52 week low of $5.40 and a 52 week high of $6.85.

Liberty All-Star Equity Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Thursday, July 16th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $0.68 annualized dividend and a dividend yield of 11.7%. This is an increase from Liberty All-Star Equity Fund's previous quarterly dividend of $0.15.

Hedge Funds Weigh In On Liberty All-Star Equity Fund

Institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC lifted its stake in shares of Liberty All-Star Equity Fund by 5.8% during the first quarter. NewEdge Advisors LLC now owns 143,782 shares of the closed-end fund's stock valued at $942,000 after buying an additional 7,907 shares during the period. Jane Street Group LLC acquired a new stake in Liberty All-Star Equity Fund during the first quarter worth approximately $98,000. Thompson Davis & CO. Inc. purchased a new stake in Liberty All-Star Equity Fund in the 2nd quarter worth approximately $88,000. Invesco Ltd. grew its stake in Liberty All-Star Equity Fund by 6.7% in the 2nd quarter. Invesco Ltd. now owns 453,344 shares of the closed-end fund's stock worth $3,087,000 after acquiring an additional 28,583 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Liberty All-Star Equity Fund by 20.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 12,000 shares of the closed-end fund's stock valued at $82,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 9.95% of the company's stock.

About Liberty All-Star Equity Fund

Liberty All-Star Equity Fund NYSE: USA is a closed-end management investment company that seeks long-term capital appreciation through an actively managed portfolio of equity securities. Listed on the New York Stock Exchange since its inception, the fund offers investors access to both U.S. and international markets within a single vehicle. It is designed to appeal to those seeking a diversified equity strategy combined with the liquidity of an exchange-traded security.

The fund’s investment approach centers on a diversified mix of common stocks and American Depositary Receipts (ADRs), spanning large-cap, mid-cap and small-cap issuers.

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