Highland Global Allocation Fund (NASDAQ:HGLB) Trading Down 0.8% – Here’s What Happened

by · The Markets Daily

Highland Global Allocation Fund (NASDAQ:HGLB – Get Free Report) was down 0.8% during mid-day trading on Monday . The stock traded as low as $7.65 and last traded at $7.68. Approximately 30,748 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 65,739 shares. The stock had previously closed at $7.74.

Highland Global Allocation Fund Stock Performance

The firm’s 50-day moving average price is $7.72 and its 200 day moving average price is $7.66.

Highland Global Allocation Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 24th will be given a dividend of $0.081 per share. The ex-dividend date is Tuesday, December 24th. This represents a $0.97 annualized dividend and a dividend yield of 12.64%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HGLB. HighTower Advisors LLC raised its position in shares of Highland Global Allocation Fund by 12.4% during the third quarter. HighTower Advisors LLC now owns 18,315 shares of the company’s stock worth $139,000 after purchasing an additional 2,027 shares during the period. Arete Wealth Advisors LLC increased its stake in Highland Global Allocation Fund by 65.1% during the 3rd quarter. Arete Wealth Advisors LLC now owns 24,124 shares of the company’s stock worth $189,000 after purchasing an additional 9,515 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Highland Global Allocation Fund by 12.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 41,100 shares of the company’s stock worth $323,000 after buying an additional 4,500 shares during the period. Shaker Financial Services LLC raised its holdings in Highland Global Allocation Fund by 7.0% during the 3rd quarter. Shaker Financial Services LLC now owns 657,548 shares of the company’s stock worth $5,168,000 after buying an additional 43,284 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Highland Global Allocation Fund by 1,209.4% in the third quarter. International Assets Investment Management LLC now owns 17,363 shares of the company’s stock valued at $1,360,000 after buying an additional 16,037 shares in the last quarter. 28.79% of the stock is currently owned by institutional investors.

About Highland Global Allocation Fund

(Get Free Report)

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.

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