Highland Global Allocation Fund (NASDAQ:HGLB) Shares Down 0.6% – Here’s Why

Shares of Highland Global Allocation Fund (NASDAQ:HGLB) were down 0.6% on Tuesday . The company traded as low as $8.01 and last traded at $8.1090. Approximately 110,383 shares traded hands during trading, an increase of 53% from the average daily volume of 72,051 shares. The stock had previously closed at $8.16.

Highland Global Allocation Fund Stock Performance

The business has a 50-day moving average of $8.23 and a two-hundred day moving average of $8.91.

Highland Global Allocation Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be given 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 yield of 12.7%.

Institutional Investors Weigh In On Highland Global Allocation Fund

Several institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. boosted its holdings in Highland Global Allocation Fund by 3.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 51,435 shares of the company’s stock worth $470,000 after acquiring an additional 1,528 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Highland Global Allocation Fund by 21.0% in the fourth quarter. International Assets Investment Management LLC now owns 13,917 shares of the company’s stock worth $127,000 after acquiring an additional 2,417 shares in the last quarter. Sovereign Financial Group Inc. boosted its holdings in Highland Global Allocation Fund by 2.1% in the fourth quarter. Sovereign Financial Group Inc. now owns 120,412 shares of the company’s stock worth $1,099,000 after acquiring an additional 2,487 shares in the last quarter. Godfrey Financial Associates Inc. acquired a new stake in Highland Global Allocation Fund in the fourth quarter worth about $29,000. Finally, Bank of America Corp DE acquired a new stake in Highland Global Allocation Fund in the fourth quarter worth about $32,000. Institutional investors and hedge funds 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.