Liberty All-Star Equity Fund (USA) Sees Large Decrease in Short Interest
Liberty All-Star Equity Fund (NYSE:USA) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 499,058 shares, a drop of 39.1% from the January 13th total of 820,015 shares. Based on an average daily volume of 522,105 shares, the short-interest ratio is presently 1.0 days. Approximately 0.3% of the shares of the stock are short sold.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. One Capital Management LLC raised its position in Liberty All-Star Equity Fund by 0.6% in the third quarter. One Capital Management LLC now owns 35,028 shares of the closed-end fund’s stock valued at $181,000 after buying an additional 208 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in Liberty All-Star Equity Fund by 2.7% in the third quarter. Cullen Frost Bankers Inc. now owns 21,694 shares of the closed-end fund’s stock valued at $112,000 after buying an additional 562 shares in the last quarter. CSS LLC IL raised its position in Liberty All-Star Equity Fund by 2.3% in the third quarter. CSS LLC IL now owns 26,128 shares of the closed-end fund’s stock valued at $135,000 after buying an additional 590 shares in the last quarter. M&T Bank Corp raised its position in Liberty All-Star Equity Fund by 1.3% in the third quarter. M&T Bank Corp now owns 52,772 shares of the closed-end fund’s stock valued at $273,000 after buying an additional 696 shares in the last quarter. Finally, Sii Investments Inc. WI raised its position in Liberty All-Star Equity Fund by 4.5% in the fourth quarter. Sii Investments Inc. WI now owns 40,982 shares of the closed-end fund’s stock valued at $211,000 after buying an additional 1,765 shares in the last quarter. Institutional investors own 29.20% of the company’s stock.
Separately, Morgan Stanley began coverage on shares of Liberty All-Star Equity Fund in a research note on Tuesday, November 1st. They set an “overweight” rating and a $25.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Liberty All-Star Equity Fund presently has a consensus rating of “Buy” and an average target price of $34.36.
Liberty All-Star Equity Fund (NYSE:USA) opened at 5.43 on Friday. The firm’s 50-day moving average is $5.37 and its 200-day moving average is $5.17. Liberty All-Star Equity Fund has a 52 week low of $4.45 and a 52 week high of $5.53.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 6th. Stockholders of record on Friday, February 17th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, February 15th. This represents a $0.52 annualized dividend and a dividend yield of 9.58%.
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Liberty All-Star Equity Fund Company Profile
Liberty All-Star Equity Fund (the Fund) is a diversified, closed-end management investment company. The Fund seeks total investment return comprising long-term capital appreciation and current income through investing primarily in a diversified portfolio of equity securities. The Fund invests in various sectors, including financials, information technology, healthcare, consumer discretionary, consumer staples, industrials, energy, materials, utilities and telecommunication services.
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