Highland Global Allocation Fund (NASDAQ:HGLB) Shares Up 0.1% – Here’s What Happened

Highland Global Allocation Fund (NASDAQ:HGLB)’s share price shot up 0.1% on Thursday . The stock traded as high as $7.53 and last traded at $7.45. 89,963 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 80,236 shares. The stock had previously closed at $7.44.

Highland Global Allocation Fund Stock Up 0.1%

The company has a 50 day moving average price of $7.50 and a two-hundred day moving average price of $7.96.

Highland Global Allocation Fund Announces Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a yield of 13.7%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Landscape Capital Management L.L.C. purchased a new stake in Highland Global Allocation Fund in the 2nd quarter worth approximately $1,512,000. NewEdge Advisors LLC lifted its holdings in Highland Global Allocation Fund by 1,672.7% in the 3rd quarter. NewEdge Advisors LLC now owns 182,745 shares of the company’s stock worth $1,661,000 after purchasing an additional 172,436 shares in the last quarter. LPL Financial LLC boosted its stake in Highland Global Allocation Fund by 16.4% in the 4th quarter. LPL Financial LLC now owns 866,872 shares of the company’s stock worth $7,915,000 after purchasing an additional 122,226 shares during the period. Advisory Solutions Group LLC bought a new position in Highland Global Allocation Fund in the 2nd quarter worth approximately $852,000. Finally, Total Wealth Planning & Management Inc. bought a new position in shares of Highland Global Allocation Fund during the fourth quarter worth $325,000. Hedge funds and other institutional investors 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.