Liberty All-Star Growth Fund (NYSE:ASG) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Liberty All-Star Growth Fund (NYSE:ASG)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.19 and traded as low as $5.06. Liberty All-Star Growth Fund shares last traded at $5.1150, with a volume of 253,664 shares changing hands.

Liberty All-Star Growth Fund Stock Up 1.1%

The business has a fifty day moving average price of $5.30 and a two-hundred day moving average price of $5.19.

Liberty All-Star Growth Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Thursday, July 16th will be paid a $0.12 dividend. The ex-dividend date is Thursday, July 16th. This represents a $0.48 annualized dividend and a yield of 9.3%. This is a boost from Liberty All-Star Growth Fund’s previous quarterly dividend of $0.11.

Institutional Investors Weigh In On Liberty All-Star Growth Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASG. Polar Asset Management Partners Inc. purchased a new position in shares of Liberty All-Star Growth Fund during the 3rd quarter valued at $2,531,000. Wolverine Asset Management LLC raised its holdings in shares of Liberty All-Star Growth Fund by 126.2% during the fourth quarter. Wolverine Asset Management LLC now owns 585,920 shares of the investment management company’s stock worth $3,105,000 after acquiring an additional 326,868 shares in the last quarter. Shaker Financial Services LLC boosted its position in Liberty All-Star Growth Fund by 17.7% during the fourth quarter. Shaker Financial Services LLC now owns 1,547,675 shares of the investment management company’s stock valued at $8,354,000 after purchasing an additional 232,946 shares during the last quarter. 1607 Capital Partners LLC boosted its position in Liberty All-Star Growth Fund by 19.4% during the fourth quarter. 1607 Capital Partners LLC now owns 1,300,216 shares of the investment management company’s stock valued at $6,891,000 after purchasing an additional 211,617 shares during the last quarter. Finally, Absolute Investment Advisers LLC purchased a new position in Liberty All-Star Growth Fund in the fourth quarter valued at about $928,000. Hedge funds and other institutional investors own 21.62% of the company’s stock.

About Liberty All-Star Growth Fund

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.