Liberty All-Star Equity Fund (NYSE:USA) Reaches New 52-Week High on Insider Buying Activity

Liberty All-Star Equity Fund (NYSE:USA)’s share price hit a new 52-week high on Tuesday following insider buying activity. The stock traded as high as $7.09 and last traded at $7.08, with a volume of 252741 shares. The stock had previously closed at $7.04.

Specifically, insider Edmund J. Burke purchased 4,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were bought at an average price of $7.09 per share, with a total value of $28,360.00. Following the completion of the acquisition, the insider now owns 6,500 shares of the company’s stock, valued at $46,085. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Liberty All-Star Equity Fund Stock Performance

The firm’s 50-day simple moving average is $6.72 and its two-hundred day simple moving average is $6.33.

Liberty All-Star Equity Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, January 19th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 9.54%. This is a boost from Liberty All-Star Equity Fund’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, January 18th.

Hedge Funds Weigh In On Liberty All-Star Equity Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in USA. Avior Wealth Management LLC purchased a new position in Liberty All-Star Equity Fund during the 4th quarter worth approximately $2,970,000. Shaker Financial Services LLC grew its position in Liberty All-Star Equity Fund by 149.1% during the 4th quarter. Shaker Financial Services LLC now owns 659,722 shares of the closed-end fund’s stock worth $4,226,000 after purchasing an additional 394,909 shares in the last quarter. Financial Advocates Investment Management purchased a new position in Liberty All-Star Equity Fund during the 4th quarter worth approximately $1,302,000. Weiss Asset Management LP purchased a new position in Liberty All-Star Equity Fund during the 4th quarter worth approximately $1,321,000. Finally, Wolverine Asset Management LLC grew its position in Liberty All-Star Equity Fund by 641.7% during the 4th quarter. Wolverine Asset Management LLC now owns 195,071 shares of the closed-end fund’s stock worth $1,245,000 after purchasing an additional 168,771 shares in the last quarter. 9.95% of the stock is currently owned by hedge funds and other institutional investors.

About Liberty All-Star Equity Fund

Liberty All Star Equity Fund is a closed-ended equity mutual fund launched and managed by ALPS Advisers, Inc The fund is co-managed by Aristotle Capital Management, LLC, Pzena Investment Management, LLC, Delaware Investments Fund Advisers, Sustainable Growth Advisers, LP, and TCW Investment Management Company.