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

Shares of 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 mid-day 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 Up 1.0%

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

Highland Global Allocation Fund Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HGLB. NewEdge Advisors LLC increased its holdings in shares of Highland Global Allocation Fund by 1,672.7% in the third quarter. NewEdge Advisors LLC now owns 182,745 shares of the company’s stock valued at $1,661,000 after purchasing an additional 172,436 shares during the period. LPL Financial LLC increased its holdings in shares of 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 purchasing an additional 122,226 shares during the period. Shaker Financial Services LLC acquired a new position in shares of Highland Global Allocation Fund in the fourth quarter valued at about $341,000. Total Wealth Planning & Management Inc. acquired a new position in shares of Highland Global Allocation Fund in the fourth quarter valued at about $325,000. Finally, Raymond James Financial Inc. increased its holdings in shares of 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 purchasing an additional 33,750 shares during the period. 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.