Liberty All-Star Equity Fund (NYSE:USA) Sees Large Growth in Short Interest

Liberty All-Star Equity Fund (NYSE:USA) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 224,000 shares, a growth of 1,097.9% from the February 29th total of 18,700 shares. Based on an average daily volume of 872,800 shares, the days-to-cover ratio is presently 0.3 days.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Avior Wealth Management LLC purchased a new position in Liberty All-Star Equity Fund during the 4th quarter valued at about $2,970,000. Shaker Financial Services LLC increased its stake in Liberty All-Star Equity Fund by 149.1% in the 4th quarter. Shaker Financial Services LLC now owns 659,722 shares of the closed-end fund’s stock worth $4,226,000 after acquiring an additional 394,909 shares during the last quarter. Financial Advocates Investment Management bought a new stake in shares of Liberty All-Star Equity Fund during the 4th quarter valued at about $1,302,000. Weiss Asset Management LP bought a new position in shares of Liberty All-Star Equity Fund in the fourth quarter worth approximately $1,321,000. Finally, Wolverine Asset Management LLC raised its stake in Liberty All-Star Equity Fund by 641.7% in the fourth quarter. Wolverine Asset Management LLC now owns 195,071 shares of the closed-end fund’s stock valued at $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.

Liberty All-Star Equity Fund Price Performance

Shares of Liberty All-Star Equity Fund stock traded up $0.02 during trading on Thursday, hitting $7.15. 281,770 shares of the company’s stock traded hands, compared to its average volume of 866,498. The firm’s fifty day moving average price is $6.72 and its 200 day moving average price is $6.33. Liberty All-Star Equity Fund has a twelve month low of $5.62 and a twelve month high of $7.16.

Liberty All-Star Equity Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, January 19th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, January 18th. This is an increase from Liberty All-Star Equity Fund’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 9.51%.

Liberty All-Star Equity Fund Company Profile

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.