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

Shares of Highland Global Allocation Fund (NASDAQ:HGLB) fell 3.5% during trading on Thursday . The company traded as low as $6.89 and last traded at $6.92. 272,493 shares traded hands 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 Price Performance

The stock’s 50 day simple moving average is $7.53 and its 200 day simple moving average is $7.76.

Highland Global Allocation Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 21st will be paid a $0.081 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.97 dividend on an annualized basis and a yield of 14.01%.

Hedge Funds Weigh In On Highland Global Allocation Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sovereign Financial Group Inc. boosted its stake in shares of Highland Global Allocation Fund by 1.5% during the third quarter. Sovereign Financial Group Inc. now owns 139,299 shares of the company’s stock valued at $1,114,000 after purchasing an additional 2,020 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Highland Global Allocation Fund by 4.7% during the fourth quarter. Capital Investment Advisors LLC now owns 55,150 shares of the company’s stock valued at $433,000 after purchasing an additional 2,500 shares in the last quarter. Baystate Wealth Management LLC bought a new position in shares of Highland Global Allocation Fund during the fourth quarter valued at approximately $48,000. Private Advisor Group LLC lifted its position in Highland Global Allocation Fund by 6.6% during the fourth quarter. Private Advisor Group LLC now owns 112,663 shares of the company’s stock valued at $886,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Quantedge Capital Pte Ltd lifted its position in Highland Global Allocation Fund by 4.7% during the third quarter. Quantedge Capital Pte Ltd now owns 166,783 shares of the company’s stock valued at $1,334,000 after acquiring an additional 7,500 shares during the last quarter. 28.79% of the stock is currently owned by institutional investors.

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.