Highland Global Allocation Fund (NASDAQ:HGLB) Shares Up 0.6% – Still a Buy?

Highland Global Allocation Fund (NASDAQ:HGLB) shares shot up 0.6% on Monday . The company traded as high as $8.23 and last traded at $8.2190. 80,524 shares changed hands during trading, an increase of 11% from the average session volume of 72,348 shares. The stock had previously closed at $8.17.

Highland Global Allocation Fund Trading Up 0.6%

The stock’s 50 day simple moving average is $8.51 and its 200 day simple moving average is $9.14.

Highland Global Allocation Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of $0.085 per share. This represents a c) dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Tuesday, June 23rd.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HGLB. NewEdge Advisors LLC boosted its stake in Highland Global Allocation Fund by 1,672.7% during the 3rd quarter. NewEdge Advisors LLC now owns 182,745 shares of the company’s stock valued at $1,661,000 after acquiring an additional 172,436 shares during the last quarter. LPL Financial LLC boosted its stake in Highland Global Allocation Fund by 16.4% during the 4th quarter. LPL Financial LLC now owns 866,872 shares of the company’s stock valued at $7,915,000 after acquiring an additional 122,226 shares during the last quarter. Osaic Holdings Inc. boosted its stake in Highland Global Allocation Fund by 30.1% during the 2nd quarter. Osaic Holdings Inc. now owns 309,856 shares of the company’s stock valued at $2,696,000 after acquiring an additional 71,742 shares during the last quarter. NWF Advisory Services Inc. boosted its stake in Highland Global Allocation Fund by 24.1% during the 3rd quarter. NWF Advisory Services Inc. now owns 291,581 shares of the company’s stock valued at $2,650,000 after acquiring an additional 56,600 shares during the last quarter. Finally, Shaker Financial Services LLC bought a new position in Highland Global Allocation Fund during the 4th quarter valued at $341,000. 28.79% of the stock is currently owned by 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.