Highland Global Allocation Fund (NASDAQ:HGLB) Stock Price Up 0.3% – Still a Buy?

Highland Global Allocation Fund (NASDAQ:HGLB)’s stock price was up 0.3% on Thursday . The company traded as high as $7.66 and last traded at $7.5650. Approximately 123,440 shares were traded during trading, an increase of 55% from the average session volume of 79,810 shares. The stock had previously closed at $7.54.

Highland Global Allocation Fund Price Performance

The company’s 50-day moving average price is $7.55 and its 200-day moving average price is $8.09.

Highland Global Allocation Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be paid a dividend of $0.085 per share. This represents a c) annualized dividend and a yield of 13.5%. The ex-dividend date is Wednesday, September 23rd.

Hedge Funds Weigh In On Highland Global Allocation Fund

A number of hedge funds have recently made changes to their positions in the company. Bank of America Corp DE acquired a new stake in shares of Highland Global Allocation Fund in the fourth quarter worth approximately $32,000. NewEdge Advisors LLC acquired a new position in Highland Global Allocation Fund in the 2nd quarter valued at $90,000. Raymond James Financial Inc. raised its stake in Highland Global Allocation Fund by 1.4% in the 2nd quarter. Raymond James Financial Inc. now owns 2,490,134 shares of the company’s stock valued at $21,674,000 after purchasing an additional 33,750 shares during the last quarter. Jane Street Group LLC purchased a new position in Highland Global Allocation Fund in the 2nd quarter valued at $111,000. Finally, Shaker Financial Services LLC purchased a new position in Highland Global Allocation Fund in the 4th quarter valued at $341,000. 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.