Highland Global Allocation Fund (NASDAQ:HGLB) Trading 0.5% Higher – Here’s What Happened

Highland Global Allocation Fund (NASDAQ:HGLB)’s share price rose 0.5% during mid-day trading on Friday . The stock traded as high as $7.78 and last traded at $7.75. Approximately 37,476 shares traded hands during trading, a decline of 45% from the average daily volume of 67,940 shares. The stock had previously closed at $7.71.

Highland Global Allocation Fund Stock Performance

The firm has a 50-day moving average price of $7.81 and a 200-day moving average price of $7.57.

Highland Global Allocation Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 24th will be issued a dividend of $0.081 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $0.97 dividend on an annualized basis and a yield of 12.54%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hartline Investment Corp purchased a new stake in shares of Highland Global Allocation Fund during the 1st quarter worth approximately $116,000. Matisse Capital increased its position in Highland Global Allocation Fund by 17.6% in the first quarter. Matisse Capital now owns 340,000 shares of the company’s stock worth $2,604,000 after buying an additional 51,000 shares during the last quarter. BOKF NA increased its position in Highland Global Allocation Fund by 3.8% in the first quarter. BOKF NA now owns 82,753 shares of the company’s stock worth $628,000 after buying an additional 3,034 shares during the last quarter. Raymond James & Associates raised its stake in shares of Highland Global Allocation Fund by 32.3% in the second quarter. Raymond James & Associates now owns 2,399,477 shares of the company’s stock valued at $18,068,000 after buying an additional 585,471 shares during the period. Finally, Shaker Financial Services LLC lifted its position in shares of Highland Global Allocation Fund by 34.7% during the 2nd quarter. Shaker Financial Services LLC now owns 614,264 shares of the company’s stock valued at $4,625,000 after buying an additional 158,297 shares during the last quarter. 28.79% of the stock is currently owned by hedge funds and other institutional investors.

About Highland Global Allocation Fund

Highland Global Allocation Fund is a closed-end fund designed to provide low correlation to U.S. equity market.

Thr fund applies global thematic investment style, pursuing investments that management team views as undervalued, built around high-conviction themes.