Short Interest in Liberty All-Star Growth Fund (NYSE:ASG) Decreases By 49.8%

Key Points

• Short interest in Liberty All-Star Growth Fund fell 49.8% to 14,632 shares as of August 14, representing 0.0% of shares outstanding and only 0.1 days of average trading volume.
• Institutional investors and hedge funds made several purchases and increased holdings, collectively owning 21.62% of ASG.
• ASG recently increased its quarterly dividend from $0.11 to $0.12 per share, equivalent to an annualized dividend of $0.48 and a 9.2% yield; the stock traded at $5.24.

Liberty All-Star Growth Fund (NYSE:ASG - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 14,632 shares, a decrease of 49.8% from the July 30th total of 29,161 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 240,600 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On Liberty All-Star Growth Fund

Several hedge funds and other institutional investors have recently made changes to their positions in ASG. EP Wealth Advisors LLC purchased a new position in Liberty All-Star Growth Fund during the second quarter worth about $660,000. Rivernorth Capital Management LLC purchased a new stake in shares of Liberty All-Star Growth Fund in the 1st quarter valued at approximately $706,000. PNC Financial Services Group Inc. increased its holdings in shares of Liberty All-Star Growth Fund by 16.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 65,170 shares of the investment management company's stock worth $310,000 after buying an additional 9,320 shares during the last quarter. Independent Financial Group LLC acquired a new stake in shares of Liberty All-Star Growth Fund during the 1st quarter worth approximately $66,000. Finally, Calamos Advisors LLC increased its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 21.62% of the company's stock.

Liberty All-Star Growth Fund Stock Performance

ASG traded down $0.02 on Friday, reaching $5.24. 243,785 shares of the company's stock were exchanged, compared to its average volume of 212,717. Liberty All-Star Growth Fund has a twelve month low of $4.55 and a twelve month high of $5.69. The stock's fifty day moving average price is $5.31 and its 200-day moving average price is $5.19.

Liberty All-Star Growth Fund Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, July 16th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, July 16th. This represents a $0.48 annualized dividend and a dividend yield of 9.2%. This is an increase from Liberty All-Star Growth Fund's previous quarterly dividend of $0.11.

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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