Liberty All-Star Equity Fund (NYSE:USA) Sees Significant Increase in Short Interest

Liberty All-Star Equity Fund (NYSE:USA) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 248,198 shares, an increase of 585.3% from the July 15th total of 36,220 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 1,501,656 shares, the days-to-cover ratio is presently 0.2 days.

Liberty All-Star Equity Fund Price Performance

USA opened at $6.08 on Friday. Liberty All-Star Equity Fund has a 1 year low of $5.40 and a 1 year high of $6.64. The firm has a 50 day moving average price of $5.83 and a 200 day moving average price of $5.83.

Liberty All-Star Equity Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, July 16th will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, July 16th. 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 dividend yield of 11.2%.

Hedge Funds Weigh In On Liberty All-Star Equity Fund

Several hedge funds and other institutional investors have recently made changes to their positions in USA. Onyx Bridge Wealth Group LLC increased its holdings in Liberty All-Star Equity Fund by 6.9% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 30,949 shares of the closed-end fund’s stock valued at $172,000 after purchasing an additional 1,997 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Liberty All-Star Equity Fund by 20.0% during the second quarter. EverSource Wealth Advisors LLC now owns 12,000 shares of the closed-end fund’s stock worth $82,000 after purchasing an additional 2,000 shares in the last quarter. World Investment Advisors boosted its position in shares of Liberty All-Star Equity Fund by 19.5% in the fourth quarter. World Investment Advisors now owns 14,570 shares of the closed-end fund’s stock worth $91,000 after buying an additional 2,375 shares during the period. Three Magnolias Financial Advisors LLC boosted its position in shares of Liberty All-Star Equity Fund by 25.0% in the first quarter. Three Magnolias Financial Advisors LLC now owns 12,500 shares of the closed-end fund’s stock worth $69,000 after buying an additional 2,500 shares during the period. Finally, Merit Financial Group LLC grew its stake in shares of Liberty All-Star Equity Fund by 27.0% in the fourth quarter. Merit Financial Group LLC now owns 12,713 shares of the closed-end fund’s stock valued at $80,000 after buying an additional 2,701 shares in the last quarter. Institutional investors and hedge funds own 9.95% of the company’s stock.

About Liberty All-Star Equity Fund

Liberty All-Star Equity Fund (NYSE: USA) is a closed-end management investment company that seeks long-term capital appreciation through an actively managed portfolio of equity securities. Listed on the New York Stock Exchange since its inception, the fund offers investors access to both U.S. and international markets within a single vehicle. It is designed to appeal to those seeking a diversified equity strategy combined with the liquidity of an exchange-traded security.

The fund’s investment approach centers on a diversified mix of common stocks and American Depositary Receipts (ADRs), spanning large-cap, mid-cap and small-cap issuers.