Highland Global Allocation Fund (NASDAQ:HGLB) Short Interest Update

Highland Global Allocation Fund (NASDAQ:HGLB) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 58,300 shares, an increase of 68.0% from the May 15th total of 34,700 shares. Based on an average daily volume of 87,800 shares, the short-interest ratio is presently 0.7 days.

Highland Global Allocation Fund Trading Up 1.5%

Shares of NASDAQ:HGLB traded up $0.13 during midday trading on Monday, reaching $9.05. The company had a trading volume of 41,249 shares, compared to its average volume of 71,339. The company has a fifty day simple moving average of $8.13 and a two-hundred day simple moving average of $7.92. Highland Global Allocation Fund has a 1-year low of $6.62 and a 1-year high of $9.09.

Highland Global Allocation Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 23rd will be paid a $0.088 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 11.67%. The ex-dividend date of this dividend is Monday, June 23rd.

Hedge Funds Weigh In On Highland Global Allocation Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. boosted its position in shares of Highland Global Allocation Fund by 8.1% in the first quarter. Landscape Capital Management L.L.C. now owns 147,537 shares of the company’s stock worth $1,229,000 after buying an additional 11,027 shares during the period. PNC Financial Services Group Inc. acquired a new position in Highland Global Allocation Fund during the first quarter valued at $375,000. LPL Financial LLC lifted its stake in Highland Global Allocation Fund by 102.8% in the 1st quarter. LPL Financial LLC now owns 728,835 shares of the company’s stock worth $6,071,000 after acquiring an additional 369,458 shares in the last quarter. Cetera Investment Advisers boosted its position in Highland Global Allocation Fund by 22.5% during the 1st quarter. Cetera Investment Advisers now owns 39,300 shares of the company’s stock worth $327,000 after acquiring an additional 7,230 shares during the period. Finally, Wedbush Securities Inc. purchased a new position in Highland Global Allocation Fund during the 1st quarter valued at about $93,000. 28.79% of the stock is currently owned by hedge funds and other institutional investors.

About Highland Global Allocation Fund

Highland Global Allocation Fund is a closed-end fund designed to provide low correlation to U.S. equity market.

Thr fund applies global thematic investment style, pursuing investments that management team views as undervalued, built around high-conviction themes.