Liberty All-Star Equity Fund (NYSE:USA) Sees Strong Trading Volume – Should You Buy?

Liberty All-Star Equity Fund (NYSE:USA) shares saw an uptick in trading volume on Friday . Approximately 942,178 shares changed hands during mid-day trading, a decline of 20% from the previous session’s volume of 1,184,522 shares.The stock last traded at $5.7410 and had previously closed at $5.71.

Liberty All-Star Equity Fund Price Performance

The company’s 50 day moving average is $5.78 and its 200 day moving average is $5.92.

Liberty All-Star Equity Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Thursday, April 16th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, April 16th. This represents a $0.60 annualized dividend and a dividend yield of 10.5%.

Institutional Trading of Liberty All-Star Equity Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC boosted its stake in shares of Liberty All-Star Equity Fund by 179.0% in the 4th quarter. Rivernorth Capital Management LLC now owns 5,632,499 shares of the closed-end fund’s stock valued at $35,372,000 after purchasing an additional 3,613,785 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Liberty All-Star Equity Fund by 27.7% during the 3rd quarter. Raymond James Financial Inc. now owns 4,095,005 shares of the closed-end fund’s stock worth $25,962,000 after acquiring an additional 889,061 shares during the period. Absolute Investment Advisers LLC grew its holdings in Liberty All-Star Equity Fund by 632.3% during the 4th quarter. Absolute Investment Advisers LLC now owns 2,698,528 shares of the closed-end fund’s stock worth $17,109,000 after acquiring an additional 2,330,028 shares during the period. Royal Bank of Canada lifted its stake in shares of Liberty All-Star Equity Fund by 15.0% in the 1st quarter. Royal Bank of Canada now owns 2,271,108 shares of the closed-end fund’s stock valued at $12,604,000 after purchasing an additional 296,607 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Liberty All-Star Equity Fund by 3.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,742,069 shares of the closed-end fund’s stock valued at $11,865,000 after purchasing an additional 54,193 shares in the last quarter. Institutional investors and hedge funds own 9.95% of the company’s stock.

Liberty All-Star Equity Fund Company Profile

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.