Highland Global Allocation Fund (NASDAQ:HGLB) Shares Down 3.5%

Highland Global Allocation Fund (NASDAQ:HGLB)’s stock price traded down 3.5% on Thursday . The company traded as low as $6.89 and last traded at $6.92. 272,493 shares were traded during trading, an increase of 219% from the average session volume of 85,424 shares. The stock had previously closed at $7.17.

Highland Global Allocation Fund Stock Performance

The stock’s 50 day moving average price is $7.53 and its two-hundred day moving average price is $7.76.

Highland Global Allocation Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 21st will be paid a $0.081 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.97 dividend on an annualized basis and a yield of 14.01%.

Institutional Investors Weigh In On Highland Global Allocation Fund

A number of large investors have recently added to or reduced their stakes in the business. Raymond James & Associates grew its stake in Highland Global Allocation Fund by 66.8% in the 1st quarter. Raymond James & Associates now owns 1,814,006 shares of the company’s stock valued at $13,895,000 after acquiring an additional 726,647 shares during the last quarter. Sovereign Financial Group Inc. grew its stake in Highland Global Allocation Fund by 6.2% in the 1st quarter. Sovereign Financial Group Inc. now owns 164,770 shares of the company’s stock valued at $1,262,000 after acquiring an additional 9,658 shares during the last quarter. Eagle Rock Investment Company LLC acquired a new stake in Highland Global Allocation Fund in the 1st quarter valued at about $230,000. Quantedge Capital Pte Ltd boosted its stake in shares of Highland Global Allocation Fund by 14.7% during the 4th quarter. Quantedge Capital Pte Ltd now owns 191,283 shares of the company’s stock worth $1,503,000 after purchasing an additional 24,500 shares during the last quarter. Finally, Matisse Capital boosted its stake in shares of Highland Global Allocation Fund by 70.0% during the 4th quarter. Matisse Capital now owns 289,000 shares of the company’s stock worth $2,272,000 after purchasing an additional 119,000 shares during the last quarter. 28.79% of the stock is owned by institutional investors and hedge funds.

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.