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

Shares of Highland Global Allocation Fund (NASDAQ:HGLB) traded down 3.5% during mid-day trading on Thursday . The company traded as low as $6.89 and last traded at $6.92. 272,493 shares were traded during mid-day 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 Down 3.5 %

The company’s 50 day moving average is $7.56 and its 200-day moving average is $7.76.

Highland Global Allocation Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 21st will be given a $0.081 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.97 dividend on an annualized basis and a dividend yield of 14.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Raymond James & Associates lifted its holdings in Highland Global Allocation Fund by 66.8% during the 1st quarter. Raymond James & Associates now owns 1,814,006 shares of the company’s stock valued at $13,895,000 after purchasing an additional 726,647 shares during the last quarter. Sovereign Financial Group Inc. lifted its stake in shares of Highland Global Allocation Fund by 6.2% during the 1st quarter. Sovereign Financial Group Inc. now owns 164,770 shares of the company’s stock worth $1,262,000 after buying an additional 9,658 shares during the last quarter. Eagle Rock Investment Company LLC acquired a new stake in shares of Highland Global Allocation Fund during the 1st quarter worth about $230,000. Quantedge Capital Pte Ltd boosted its holdings 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 buying an additional 24,500 shares during the period. Finally, Matisse Capital grew its stake in Highland Global Allocation Fund by 70.0% in the 4th quarter. Matisse Capital now owns 289,000 shares of the company’s stock valued at $2,272,000 after buying 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.