Highland Global Allocation Fund (NASDAQ:HGLB) Shares Down 1.8% – What’s Next?

Highland Global Allocation Fund (NASDAQ:HGLB)’s stock price dropped 1.8% during mid-day trading on Thursday. The stock traded as low as $6.99 and last traded at $6.9950. 99,718 shares were traded during trading, an increase of 27% from the average daily volume of 78,449 shares. The stock had previously closed at $7.12.

Highland Global Allocation Fund Stock Down 1.8%

The business has a 50 day simple moving average of $7.42 and a 200 day simple moving average of $7.78.

Highland Global Allocation Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be given a $0.0850 dividend. This represents a $1.02 annualized dividend and a dividend yield of 14.6%. The ex-dividend date of this dividend is Wednesday, September 23rd.

Institutional Trading of Highland Global Allocation Fund

Several large investors have recently bought and sold shares of the stock. Concorde Asset Management LLC acquired a new position in Highland Global Allocation Fund during the 2nd quarter valued at approximately $90,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Highland Global Allocation Fund during the second quarter worth $94,000. Advisory Solutions Group LLC purchased a new stake in shares of Highland Global Allocation Fund during the second quarter valued at $852,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Highland Global Allocation Fund during the second quarter valued at $1,512,000. Finally, NewEdge Advisors LLC increased its position in shares of Highland Global Allocation Fund by 15.6% in the 1st quarter. NewEdge Advisors LLC now owns 211,407 shares of the company’s stock valued at $1,698,000 after acquiring an additional 28,598 shares during the period. Hedge funds and other institutional investors own 28.79% of the company’s stock.

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.