Liberty All-Star Growth Fund (NYSE:ASG) Short Interest Up 67.8% in May

Liberty All-Star Growth Fund (NYSE:ASG) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 23,426 shares, an increase of 67.8% from the May 14th total of 13,959 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 222,570 shares, the days-to-cover ratio is presently 0.1 days.

Liberty All-Star Growth Fund Stock Down 0.5%

Shares of ASG traded down $0.03 during mid-day trading on Wednesday, hitting $5.34. 85,370 shares of the company traded hands, compared to its average volume of 287,948. The stock has a 50-day moving average price of $5.21 and a two-hundred day moving average price of $5.20. Liberty All-Star Growth Fund has a 1 year low of $4.55 and a 1 year high of $5.69.

Liberty All-Star Growth Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Thursday, April 16th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date was Thursday, April 16th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Rivernorth Capital Management LLC purchased a new position in shares of Liberty All-Star Growth Fund during the 1st quarter valued at $706,000. PNC Financial Services Group Inc. lifted its position in shares of Liberty All-Star Growth Fund by 16.7% in the first quarter. PNC Financial Services Group Inc. now owns 65,170 shares of the investment management company’s stock valued at $310,000 after acquiring an additional 9,320 shares in the last quarter. Independent Financial Group LLC purchased a new position in shares of Liberty All-Star Growth Fund in the first quarter valued at about $66,000. Calamos Advisors LLC boosted its stake in shares of Liberty All-Star Growth Fund by 13.5% in the first quarter. Calamos Advisors LLC now owns 228,704 shares of the investment management company’s stock worth $1,086,000 after acquiring an additional 27,225 shares during the period. Finally, TrueMark Investments LLC purchased a new stake in shares of Liberty All-Star Growth Fund during the first quarter worth about $68,000. 21.62% of the stock is owned by hedge funds and other institutional investors.

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.