Liberty All-Star Growth Fund (NYSE:ASG) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Liberty All-Star Growth Fund (NYSE:ASG)’s share price crossed 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 Price Performance

The business has a 50-day moving average of $5.30 and a 200-day moving average of $5.19.

Liberty All-Star Growth Fund Increases Dividend

The company 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. This is an increase from Liberty All-Star Growth Fund’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date is Thursday, July 16th.

Hedge Funds Weigh In On Liberty All-Star Growth Fund

A number of hedge funds have recently modified their holdings of the business. IHT Wealth Management LLC acquired a new position in shares of Liberty All-Star Growth Fund in the 2nd quarter valued at $55,000. StoneX Group Inc. acquired a new stake in Liberty All-Star Growth Fund during the 2nd quarter worth $60,000. Farther Finance Advisors LLC boosted its stake in Liberty All-Star Growth Fund by 245.3% during the 4th quarter. Farther Finance Advisors LLC now owns 12,436 shares of the investment management company’s stock worth $66,000 after purchasing an additional 8,835 shares during the period. Independent Financial Group LLC purchased a new position in Liberty All-Star Growth Fund during the 1st quarter worth $66,000. Finally, TrueMark Investments LLC purchased a new position in Liberty All-Star Growth Fund during the 1st quarter worth $68,000. 21.62% of the stock is currently 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.