Short Interest in Liberty All-Star Growth Fund (NYSE:ASG) Increases By 108.6%

Key Points

• Short interest in Liberty All-Star Growth Fund (NYSE:ASG) jumped 108.6% in June, rising to 28,340 shares as of June 30 from 13,585 shares two weeks earlier.
• The fund recently raised its quarterly dividend to $0.12 per share from $0.11, with the next payment scheduled for August 31 and an annualized yield of 8.9%.
• ASG shares traded at $5.38 on Wednesday, near both its 50-day and 200-day moving averages, while institutional investors currently own about 21.62% of the stock.

Liberty All-Star Growth Fund (NYSE:ASG - Get Free Report) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 28,340 shares, an increase of 108.6% from the June 15th total of 13,585 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 192,799 shares, the short-interest ratio is presently 0.1 days.

Liberty All-Star Growth Fund Stock Performance

Shares of NYSE ASG traded down $0.04 during midday trading on Wednesday, reaching $5.38. 339,925 shares of the company were exchanged, compared to its average volume of 277,276. The stock's 50-day moving average price is $5.32 and its 200-day moving average price is $5.21. Liberty All-Star Growth Fund has a one year low of $4.55 and a one year high of $5.69.

Liberty All-Star Growth Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, July 16th will be issued a dividend of $0.12 per share. This is a positive change from Liberty All-Star Growth Fund's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $0.48 annualized dividend and a dividend yield of 8.9%.

Hedge Funds Weigh In On Liberty All-Star Growth Fund

A number of institutional investors and hedge funds have recently bought and sold shares of ASG. IHT Wealth Management LLC acquired a new stake in shares of Liberty All-Star Growth Fund during the second quarter valued at about $55,000. StoneX Group Inc. acquired a new stake in Liberty All-Star Growth Fund during the 2nd quarter worth approximately $60,000. Farther Finance Advisors LLC grew its holdings in Liberty All-Star Growth Fund by 245.3% during the 4th quarter. Farther Finance Advisors LLC now owns 12,436 shares of the investment management company's stock worth $66,000 after acquiring an additional 8,835 shares during the last quarter. XTX Topco Ltd bought a new stake in Liberty All-Star Growth Fund during the 4th quarter worth approximately $72,000. Finally, Independent Financial Group LLC acquired a new position in Liberty All-Star Growth Fund in the 1st quarter valued at approximately $66,000. Institutional investors and hedge funds own 21.62% of the company's stock.

About Liberty All-Star Growth Fund

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.