Lazard Global Total Return and Income Fund (NYSE:LGI) Stock Price Down 0.7% – Here’s Why

Shares of Lazard Global Total Return and Income Fund, Inc. (NYSE:LGI) fell 0.7% during trading on Friday. The company traded as low as $16.49 and last traded at $16.5550. 42,546 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 47,166 shares. The stock had previously closed at $16.68.

Lazard Global Total Return and Income Fund Stock Down 0.7%

The business’s fifty day moving average price is $16.93 and its 200 day moving average price is $17.78.

Lazard Global Total Return and Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, November 10th will be issued a dividend of $0.1534 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.84 annualized dividend and a dividend yield of 11.1%.

Hedge Funds Weigh In On Lazard Global Total Return and Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kovack Advisors Inc. boosted its position in Lazard Global Total Return and Income Fund by 29.1% in the third quarter. Kovack Advisors Inc. now owns 16,880 shares of the company’s stock valued at $287,000 after buying an additional 3,800 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Lazard Global Total Return and Income Fund by 2.2% during the third quarter. Steward Partners Investment Advisory LLC now owns 50,110 shares of the company’s stock worth $853,000 after buying an additional 1,100 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in shares of Lazard Global Total Return and Income Fund by 14.7% during the third quarter. Flagship Harbor Advisors LLC now owns 38,285 shares of the company’s stock worth $652,000 after buying an additional 4,921 shares during the last quarter. Samalin Investment Counsel LLC bought a new stake in shares of Lazard Global Total Return and Income Fund during the third quarter worth $172,000. Finally, Shaker Financial Services LLC acquired a new position in shares of Lazard Global Total Return and Income Fund during the third quarter worth $873,000.

About Lazard Global Total Return and Income Fund

Lazard Global Total Return and Income Fund, Inc. is a closed-end investment fund listed on the New York Stock Exchange under the symbol LGI. The fund seeks to provide investors with total return through a combination of capital appreciation and current income. LGI invests in a diversified portfolio of global securities, including equity and fixed-income investments. Its holdings may include securities issued by companies and governments in developed and emerging markets, allowing the fund to pursue opportunities across multiple regions, industries and currencies.