Highland Global Allocation Fund (NASDAQ:HGLB) Trading Up 0.1% – Here’s Why

Highland Global Allocation Fund (NASDAQ:HGLB)’s share price traded up 0.1% on Thursday . The stock traded as high as $8.74 and last traded at $8.5150. 82,121 shares were traded during trading, an increase of 12% from the average session volume of 73,605 shares. The stock had previously closed at $8.51.

Highland Global Allocation Fund Price Performance

The company has a 50-day moving average price of $8.85 and a 200-day moving average price of $9.23.

Highland Global Allocation Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be paid a dividend of $0.085 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a c) annualized dividend and a dividend yield of 12.0%.

Institutional Trading of Highland Global Allocation Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quantedge Capital Pte Ltd lifted its stake in shares of Highland Global Allocation Fund by 8.5% during the 4th quarter. Quantedge Capital Pte Ltd now owns 173,587 shares of the company’s stock worth $1,585,000 after purchasing an additional 13,600 shares during the period. Wells Fargo & Company MN increased its stake in Highland Global Allocation Fund by 306,050.0% in the fourth quarter. Wells Fargo & Company MN now owns 6,123 shares of the company’s stock valued at $56,000 after purchasing an additional 6,121 shares during the last quarter. Jane Street Group LLC purchased a new position in Highland Global Allocation Fund during the fourth quarter worth about $106,000. LPL Financial LLC lifted its position in Highland Global Allocation Fund by 16.4% during the fourth quarter. LPL Financial LLC now owns 866,872 shares of the company’s stock worth $7,915,000 after buying an additional 122,226 shares during the period. Finally, Total Wealth Planning & Management Inc. acquired a new stake in Highland Global Allocation Fund in the 4th quarter worth about $325,000. 28.79% of the stock is owned by hedge funds and other institutional investors.

Highland Global Allocation Fund Company Profile

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.