Highland Global Allocation Fund (NASDAQ:HGLB) to Issue $0.09 Monthly Dividend

Highland Global Allocation Fund (NASDAQ:HGLB) declared a monthly dividend on Friday, January 2nd. Investors of record on Friday, January 23rd will be paid a dividend of 0.085 per share on Friday, January 30th. This represents a c) annualized dividend and a yield of 11.5%. The ex-dividend date is Friday, January 23rd.

Highland Global Allocation Fund Trading Down 1.6%

Shares of HGLB opened at $8.86 on Wednesday. The company’s fifty day moving average is $9.31 and its two-hundred day moving average is $9.13. Highland Global Allocation Fund has a fifty-two week low of $6.62 and a fifty-two week high of $10.64.

Institutional Investors Weigh In On Highland Global Allocation Fund

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE purchased a new stake in shares of Highland Global Allocation Fund in the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Highland Global Allocation Fund during the 2nd quarter valued at about $44,000. NewEdge Advisors LLC acquired a new position in Highland Global Allocation Fund during the 2nd quarter worth approximately $90,000. Benjamin Edwards Inc. acquired a new position in Highland Global Allocation Fund during the 3rd quarter worth approximately $93,000. Finally, International Assets Investment Management LLC purchased a new position in Highland Global Allocation Fund in the 2nd quarter worth approximately $94,000. Hedge funds and other institutional investors own 28.79% of the company’s stock.

About Highland Global Allocation Fund

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.