Columbia Seligman Premium Technology Growth Fund (NYSE:STK) Sees Significant Growth in Short Interest

Columbia Seligman Premium Technology Growth Fund (NYSE:STK) saw a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 14,100 shares, an increase of 49.1% from the July 30th total of 9,455 shares. Based on an average daily volume of 76,602 shares, the short-interest ratio is presently 0.2 days.

Columbia Seligman Premium Technology Growth Fund Price Performance

Shares of STK stock traded down $0.37 on Tuesday, hitting $51.92. The stock had a trading volume of 26,027 shares, compared to its average volume of 58,486. Columbia Seligman Premium Technology Growth Fund has a twelve month low of $31.07 and a twelve month high of $58.46. The company has a fifty day moving average price of $51.17 and a two-hundred day moving average price of $47.54.

Columbia Seligman Premium Technology Growth Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 17th were issued a dividend of $0.4625 per share. The ex-dividend date was Monday, August 17th. This represents a $1.85 annualized dividend and a yield of 3.6%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STK. PNC Financial Services Group Inc. acquired a new stake in shares of Columbia Seligman Premium Technology Growth Fund during the fourth quarter worth about $86,000. HighTower Advisors LLC bought a new position in shares of Columbia Seligman Premium Technology Growth Fund during the 2nd quarter valued at about $256,000. Concurrent Investment Advisors LLC grew its position in shares of Columbia Seligman Premium Technology Growth Fund by 30.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 10,976 shares of the company’s stock valued at $591,000 after purchasing an additional 2,539 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Columbia Seligman Premium Technology Growth Fund by 12.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,291 shares of the company’s stock valued at $716,000 after purchasing an additional 1,495 shares during the period. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Columbia Seligman Premium Technology Growth Fund during the second quarter worth $1,570,000.

Columbia Seligman Premium Technology Growth Fund Company Profile

The Columbia Seligman Premium Technology Growth Fund (NYSE: STK) is a diversified, closed-end management investment company launched in 1995. Co-managed by Columbia Management Investment Advisers, LLC and Seligman Fund Advisers, the fund seeks long-term capital growth by investing primarily in common stocks of U.S. technology and technology-enabled companies. Its portfolio typically spans sub-sectors such as software, semiconductors, hardware, communications and internet services, with an emphasis on firms exhibiting strong revenue growth and innovative product development.

In addition to equity investments, the fund employs a covered-call option overlay strategy designed to generate premium income, enhance monthly distributions and potentially reduce portfolio volatility.