Liberty All-Star Growth Fund (NYSE:ASG) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Liberty All-Star Growth Fund (NYSE:ASG)’s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.04 and traded as high as $5.22. Liberty All-Star Growth Fund shares last traded at $5.21, with a volume of 127,122 shares traded.

Liberty All-Star Growth Fund Price Performance

The firm has a 50-day simple moving average of $5.04 and a 200-day simple moving average of $5.20.

Liberty All-Star Growth Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Thursday, April 16th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 8.4%. The ex-dividend date of this dividend is Thursday, April 16th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Rivernorth Capital Management LLC purchased a new position in shares of Liberty All-Star Growth Fund during the 1st quarter valued at about $706,000. PNC Financial Services Group Inc. lifted its position in shares of Liberty All-Star Growth Fund by 16.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 65,170 shares of the investment management company’s stock valued at $310,000 after buying 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 during the 1st quarter valued at about $66,000. Calamos Advisors LLC lifted its position in shares of Liberty All-Star Growth Fund by 13.5% during the 1st quarter. Calamos Advisors LLC now owns 228,704 shares of the investment management company’s stock valued at $1,086,000 after buying an additional 27,225 shares in the last quarter. Finally, TrueMark Investments LLC purchased a new position in shares of Liberty All-Star Growth Fund during the 1st quarter valued at about $68,000. 21.62% of the stock is owned by hedge funds and other institutional investors.

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.