That would probably be the quickest way to fill your pond with algae. If the pond is exposed to a lot of sunlight the algae would likely benefit faster than the other plants.

Yeah I agree, but the uv light does a great job controlling the algae. If I'm willing to take a chance with algae do u think lilies and many other plants will benefit from this idea?

Well, I don't actually know. It does seem reasonable that algae would enjoy the boost, but I wonder if they are essentially getting the same boost anyway. The fertilizer stakes or pellets aren't available until dissolved in water in the pot or clump, and at that point are washed everywhere. It is true that local plant roots would get some of the first chance, I suspect that the vast majority of molecules end up in the pond. OTOH, perhaps the high local concentration does greatly increase a localized growth of micro rootlets that wrap around and suck up a fert. stake etc. before fully dissolving.

The fertilizer that I have is a organic fertilizer. 5-4-5 ratio.

I've never used "fertiliser sticks" but do use "monsoon tablets", probably much the same sort of thing. But I push those well down into the soil so there'd be negligible leaching into the water. People I know who are into ponds and aquariums inject carbon dioxide into the water for their water plants but never mineral fertilisers or nitrogen. The animals in the water and what's being fed to them would be raising the nutrient levels in the water anyway. But you could always test it out. At worst you'd have an algal bloom. A bit of work to clean up but not the end of the world.