Highland Global Allocation Fund (NASDAQ:HGLB) Trading Up 1.1% – Here’s What Happened

Shares of Highland Global Allocation Fund (NASDAQ:HGLB) traded up 1.1% on Wednesday . The stock traded as high as $8.91 and last traded at $8.7960. 50,839 shares were traded during mid-day trading, a decline of 38% from the average session volume of 81,819 shares. The stock had previously closed at $8.70.

Highland Global Allocation Fund Price Performance

The business’s fifty day simple moving average is $9.04 and its 200 day simple moving average is $9.17.

Highland Global Allocation Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be paid a $0.085 dividend. The ex-dividend date is Tuesday, March 24th. This represents a c) annualized dividend and a dividend yield of 11.6%.

Hedge Funds Weigh In On Highland Global Allocation Fund

A number of institutional investors have recently made changes to their positions in HGLB. NewEdge Advisors LLC grew its position in shares of Highland Global Allocation Fund by 1,672.7% during the third quarter. NewEdge Advisors LLC now owns 182,745 shares of the company’s stock worth $1,661,000 after buying an additional 172,436 shares in the last quarter. LPL Financial LLC raised its holdings in Highland Global Allocation Fund by 16.4% in the fourth quarter. LPL Financial LLC now owns 866,872 shares of the company’s stock valued at $7,915,000 after acquiring an additional 122,226 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Highland Global Allocation Fund by 30.1% during the 2nd quarter. Osaic Holdings Inc. now owns 309,856 shares of the company’s stock valued at $2,696,000 after acquiring an additional 71,742 shares during the last quarter. NWF Advisory Services Inc. grew its holdings in Highland Global Allocation Fund by 24.1% during the 3rd quarter. NWF Advisory Services Inc. now owns 291,581 shares of the company’s stock worth $2,650,000 after acquiring an additional 56,600 shares in the last quarter. Finally, Shaker Financial Services LLC bought a new stake in shares of Highland Global Allocation Fund in the 4th quarter worth about $341,000. 28.79% of the stock is owned by institutional investors and hedge funds.

Highland Global Allocation Fund Company Profile

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.