Lazard Global Total Return and Income Fund (NYSE:LGI) Stock Price Passes Above 50-Day Moving Average – Should You Sell?

Lazard Global Total Return and Income Fund, Inc. (NYSE:LGI)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $16.38 and traded as high as $16.88. Lazard Global Total Return and Income Fund shares last traded at $16.86, with a volume of 28,900 shares traded.

Lazard Global Total Return and Income Fund Stock Performance

The firm’s 50-day simple moving average is $16.39 and its 200-day simple moving average is $16.82.

Lazard Global Total Return and Income Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 21st. Shareholders of record on Monday, February 10th will be given a dividend of $0.1465 per share. This represents a $1.76 dividend on an annualized basis and a yield of 10.50%. The ex-dividend date is Monday, February 10th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Lazard Global Total Return and Income Fund during the fourth quarter valued at $5,393,000. Wolverine Asset Management LLC purchased a new position in Lazard Global Total Return and Income Fund in the 4th quarter worth about $779,000. Mezzasalma Advisors LLC bought a new position in Lazard Global Total Return and Income Fund during the 4th quarter valued at about $512,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Lazard Global Total Return and Income Fund during the 3rd quarter valued at about $260,000. Finally, Stifel Financial Corp grew its stake in shares of Lazard Global Total Return and Income Fund by 9.6% in the third quarter. Stifel Financial Corp now owns 83,928 shares of the company’s stock worth $1,522,000 after acquiring an additional 7,328 shares during the period.

Lazard Global Total Return and Income Fund Company Profile

Lazard Global Total Return and Income Fund, Inc is a closed ended balanced mutual fund launched and managed by Lazard Asset Management LLC. It invests in public equity and fixed income markets across the globe. The fund primarily invests in stocks of companies with market capitalization over $5 billion.