Highland Global Allocation Fund (NASDAQ:HGLB) Shares Up 1% – Here’s Why

Highland Global Allocation Fund (NASDAQ:HGLB) shot up 1% on Wednesday . The company traded as high as $7.84 and last traded at $7.7550. 126,994 shares were traded during trading, an increase of 71% from the average session volume of 74,229 shares. The stock had previously closed at $7.68.

Highland Global Allocation Fund Stock Performance

The business has a 50 day moving average of $8.10 and a two-hundred day moving average of $8.64.

Highland Global Allocation Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be paid a dividend of $0.085 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date is Tuesday, June 23rd.

Institutional Investors Weigh In On Highland Global Allocation Fund

A number of hedge funds have recently made changes to their positions in HGLB. NewEdge Advisors LLC lifted its stake in shares of Highland Global Allocation Fund by 1,672.7% during the 3rd quarter. NewEdge Advisors LLC now owns 182,745 shares of the company’s stock worth $1,661,000 after purchasing an additional 172,436 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Highland Global Allocation Fund by 16.4% during the 4th quarter. LPL Financial LLC now owns 866,872 shares of the company’s stock worth $7,915,000 after purchasing an additional 122,226 shares during the last quarter. Shaker Financial Services LLC purchased a new stake in Highland Global Allocation Fund in the fourth quarter valued at about $341,000. Total Wealth Planning & Management Inc. purchased a new stake in Highland Global Allocation Fund in the fourth quarter valued at about $325,000. Finally, Raymond James Financial Inc. raised its stake in Highland Global Allocation Fund by 1.4% in the second quarter. Raymond James Financial Inc. now owns 2,490,134 shares of the company’s stock valued at $21,674,000 after buying an additional 33,750 shares during the last quarter. 28.79% of the stock is currently owned by hedge funds and other institutional investors.

About Highland Global Allocation Fund

The Highland Global Allocation Fund (NASDAQ:HGLB) is a diversified, closed-end interval fund that seeks to provide total return through a combination of current income and capital appreciation. Managed by Highland Capital Management, the fund pursues a multi-asset strategy, allocating across global equities, fixed income instruments, and alternative investments. Its flexible mandate allows the portfolio team to shift exposures between regions and asset classes in response to changing market conditions.

The fund’s investment approach emphasizes risk management and diversification.