Liberty All-Star Growth Fund (NYSE:ASG) Stock Crosses Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Liberty All-Star Growth Fund (NYSE:ASG) fell below its 200-day moving average on Wednesday, trading as low as $5.14 and last changing hands at $5.1450. The move may signal weaker near-term technical momentum for the fund.
• The fund announced a higher quarterly dividend of $0.12 per share, up from $0.11 previously, payable on August 31 to shareholders of record on July 16. That works out to an annualized dividend of $0.48 and a 9.3% yield.
• Institutional investors have been active in ASG, with several firms adding positions in the first quarter. The article notes that 21.62% of the stock is owned by institutional investors.

Liberty All-Star Growth Fund (NYSE:ASG - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.20 and traded as low as $5.14. Liberty All-Star Growth Fund shares last traded at $5.1450, with a volume of 323,289 shares trading hands.

Liberty All-Star Growth Fund Stock Performance

The stock has a fifty day simple moving average of $5.31 and a 200-day simple moving average of $5.20.

Liberty All-Star Growth Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, July 16th will be given a dividend of $0.12 per share. This is an increase from Liberty All-Star Growth Fund's previous quarterly dividend of $0.11. The ex-dividend date is Thursday, July 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 9.3%.

Hedge Funds Weigh In On Liberty All-Star Growth Fund

Several institutional investors have recently added to or reduced their stakes in ASG. Rivernorth Capital Management LLC bought a new stake in Liberty All-Star Growth Fund during the first quarter worth about $706,000. PNC Financial Services Group Inc. raised its position in Liberty All-Star Growth Fund by 16.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 65,170 shares of the investment management company's stock worth $310,000 after purchasing an additional 9,320 shares during the last quarter. Independent Financial Group LLC acquired a new position in Liberty All-Star Growth Fund during the 1st quarter worth $66,000. Calamos Advisors LLC lifted its holdings in Liberty All-Star Growth Fund by 13.5% during the 1st quarter. Calamos Advisors LLC now owns 228,704 shares of the investment management company's stock worth $1,086,000 after buying an additional 27,225 shares in the last quarter. Finally, TrueMark Investments LLC bought a new position in Liberty All-Star Growth Fund in the 1st quarter valued at $68,000. 21.62% of the stock is owned by institutional investors.

Liberty All-Star Growth Fund Company Profile

Liberty All-Star Growth Fund NYSE: ASG is a closed-end, diversified management investment company that seeks long-term capital appreciation through exposure to growth-oriented equities. The fund primarily invests in a portfolio of underlying mutual funds and exchange-traded funds managed by established sub-advisers, employing a multi-manager structure designed to capture opportunities across a range of market capitalizations and industry sectors.

Under normal market conditions, ASG allocates the majority of its assets to common stocks of companies it believes exhibit above-average growth potential.

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