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

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

Highland Global Allocation Fund Price Performance

The stock’s fifty day moving average is $7.81 and its two-hundred day moving average is $7.57.

Highland Global Allocation Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Hartline Investment Corp bought a new position in Highland Global Allocation Fund during the 1st quarter valued at $116,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of Highland Global Allocation Fund by 10.0% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 16,047 shares of the company’s stock valued at $126,000 after purchasing an additional 1,459 shares during the last quarter. BOKF NA lifted its position in shares of Highland Global Allocation Fund by 3.8% during the first quarter. BOKF NA now owns 82,753 shares of the company’s stock valued at $628,000 after purchasing an additional 3,034 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Highland Global Allocation Fund by 1.3% during the third quarter. Private Advisor Group LLC now owns 114,250 shares of the company’s stock valued at $898,000 after purchasing an additional 1,500 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Highland Global Allocation Fund by 1,209.4% during the third quarter. International Assets Investment Management LLC now owns 17,363 shares of the company’s stock worth $1,360,000 after purchasing an additional 16,037 shares during the last quarter. Hedge funds and other institutional investors own 28.79% of the company’s stock.

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.