Highland Global Allocation Fund (NASDAQ:HGLB) Short Interest Up 68.0% in May

Highland Global Allocation Fund (NASDAQ:HGLB) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 58,300 shares, a growth of 68.0% from the May 15th total of 34,700 shares. Based on an average daily volume of 87,800 shares, the short-interest ratio is currently 0.7 days.

Highland Global Allocation Fund Trading Down 0.4%

Shares of NASDAQ HGLB traded down $0.04 during trading on Tuesday, reaching $9.01. 21,493 shares of the stock were exchanged, compared to its average volume of 71,148. The business’s 50-day moving average price is $8.17 and its 200 day moving average price is $7.93. Highland Global Allocation Fund has a twelve month low of $6.62 and a twelve month high of $9.09.

Highland Global Allocation Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 23rd will be issued a $0.088 dividend. The ex-dividend date is Monday, June 23rd. This represents a $1.06 dividend on an annualized basis and a yield of 11.72%.

Institutional Trading of Highland Global Allocation Fund

Several large investors have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in Highland Global Allocation Fund in the fourth quarter valued at about $17,962,000. LPL Financial LLC grew its position in shares of Highland Global Allocation Fund by 102.8% during the first quarter. LPL Financial LLC now owns 728,835 shares of the company’s stock worth $6,071,000 after buying an additional 369,458 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Highland Global Allocation Fund in the first quarter worth $375,000. Total Wealth Planning & Management Inc. increased its stake in shares of Highland Global Allocation Fund by 194.9% in the first quarter. Total Wealth Planning & Management Inc. now owns 42,593 shares of the company’s stock worth $355,000 after buying an additional 28,150 shares during the last quarter. Finally, Arlington Capital Management Inc. acquired a new stake in Highland Global Allocation Fund in the fourth quarter valued at $160,000. 28.79% of the stock is currently owned by institutional investors and hedge funds.

Highland Global Allocation Fund Company Profile

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.