Liberty All-Star Equity Fund (NYSE:USA) Short Interest Update

Key Points

• Short interest plunged in Liberty All-Star Equity Fund, falling 85.6% in July to 36,220 shares as of July 15, with essentially 0.0% of shares shorted and a days-to-cover ratio of 0.0.
• Institutional investors were active in the first quarter, with firms such as Royal Bank of Canada, Cetera Investment Advisers, and PNC Financial Services Group increasing their positions, while hedge funds and other institutions held 9.95% of the fund.
• The fund raised its quarterly dividend to $0.17 per share from $0.15, implying a $0.68 annualized payout and a 12.0% dividend yield, with payment scheduled for August 31.

Liberty All-Star Equity Fund (NYSE:USA - Get Free Report) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 36,220 shares, a decrease of 85.6% from the June 30th total of 251,149 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,817,603 shares, the days-to-cover ratio is presently 0.0 days.

Hedge Funds Weigh In On Liberty All-Star Equity Fund

Several large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its holdings in Liberty All-Star Equity Fund by 1.9% in the 1st quarter. NewEdge Advisors LLC now owns 177,215 shares of the closed-end fund's stock worth $984,000 after buying an additional 3,281 shares during the period. Royal Bank of Canada increased its stake in Liberty All-Star Equity Fund by 15.0% in the 1st quarter. Royal Bank of Canada now owns 2,271,108 shares of the closed-end fund's stock worth $12,604,000 after acquiring an additional 296,607 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Liberty All-Star Equity Fund by 13.4% during the 1st quarter. Cetera Investment Advisers now owns 557,956 shares of the closed-end fund's stock valued at $3,097,000 after acquiring an additional 66,002 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Liberty All-Star Equity Fund by 5.7% in the first quarter. PNC Financial Services Group Inc. now owns 437,776 shares of the closed-end fund's stock valued at $2,430,000 after purchasing an additional 23,626 shares in the last quarter. Finally, WealthTrust Asset Management LLC increased its position in Liberty All-Star Equity Fund by 34.7% in the first quarter. WealthTrust Asset Management LLC now owns 50,851 shares of the closed-end fund's stock worth $282,000 after purchasing an additional 13,110 shares during the last quarter. Hedge funds and other institutional investors own 9.95% of the company's stock.

Liberty All-Star Equity Fund Stock Performance

Shares of USA traded up $0.04 during trading hours on Friday, hitting $5.68. The stock had a trading volume of 1,743,005 shares, compared to its average volume of 1,694,324. The stock has a fifty day moving average price of $5.79 and a 200 day moving average price of $5.87. Liberty All-Star Equity Fund has a 12 month low of $5.40 and a 12 month high of $6.69.

Liberty All-Star Equity Fund Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, July 16th will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, July 16th. This represents a $0.68 annualized dividend and a dividend yield of 12.0%. This is a boost from Liberty All-Star Equity Fund's previous quarterly dividend of $0.15.

Liberty All-Star Equity Fund Company Profile

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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