Highland Global Allocation Fund (NASDAQ:HGLB) Trading Up 1% – What’s Next?

Highland Global Allocation Fund (NASDAQ:HGLB – Get Free Report) shares were up 1% during trading on Wednesday . The company traded as high as $7.84 and last traded at $7.7550. Approximately 126,994 shares traded hands during mid-day trading, an increase of 71% from the average daily volume of 74,229 shares. The stock had previously closed at $7.68.

Highland Global Allocation Fund Price Performance

The firm’s 50-day simple moving average is $8.09 and its 200 day simple moving average is $8.63.

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Highland Global Allocation Fund Dividend Announcement

The business 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 dividend of $0.085 per share. 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 13.0%.

Hedge Funds Weigh In On Highland Global Allocation Fund

Several large investors have recently made changes to their positions in HGLB. Bank of America Corp DE acquired a new position in shares of Highland Global Allocation Fund during the 4th quarter worth about $32,000. NewEdge Advisors LLC bought a new stake in shares of Highland Global Allocation Fund in the second quarter valued at approximately $90,000. Raymond James Financial Inc. increased its position in Highland Global Allocation Fund by 1.4% during the second quarter. Raymond James Financial Inc. now owns 2,490,134 shares of the company’s stock worth $21,674,000 after acquiring an additional 33,750 shares during the period. Jane Street Group LLC bought a new position in Highland Global Allocation Fund in the second quarter worth $111,000. Finally, Wedbush Securities Inc. bought a new stake in Highland Global Allocation Fund in the third quarter valued at $250,000. Institutional investors and hedge funds own 28.79% of the company’s stock.

About Highland Global Allocation Fund

(Get Free Report)

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.

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