Lazard Global Total Return and Income Fund (NYSE:LGI) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Shares of Lazard Global Total Return and Income Fund, Inc. (NYSE:LGI) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $16.51 and traded as low as $15.80. Lazard Global Total Return and Income Fund shares last traded at $16.01, with a volume of 54,219 shares traded.

Lazard Global Total Return and Income Fund Stock Performance

The stock’s 50 day simple moving average is $16.49 and its two-hundred day simple moving average is $16.86.

Lazard Global Total Return and Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 10th will be given a dividend of $0.1494 per share. This represents a $1.79 dividend on an annualized basis and a yield of 11.37%. This is a boost from Lazard Global Total Return and Income Fund’s previous monthly dividend of $0.12. The ex-dividend date is Friday, January 10th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LGI. Stifel Financial Corp increased its holdings in Lazard Global Total Return and Income Fund by 9.6% during the 3rd quarter. Stifel Financial Corp now owns 83,928 shares of the company’s stock worth $1,522,000 after purchasing an additional 7,328 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Lazard Global Total Return and Income Fund during the second quarter worth approximately $698,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Lazard Global Total Return and Income Fund in the third quarter worth $260,000. Finally, Benjamin Edwards Inc. acquired a new stake in Lazard Global Total Return and Income Fund in the third quarter valued at $1,469,000.

About Lazard Global Total Return and Income Fund

Lazard Global Total Return and Income Fund, Inc is a closed ended balanced mutual fund launched and managed by Lazard Asset Management LLC. It invests in public equity and fixed income markets across the globe. The fund primarily invests in stocks of companies with market capitalization over $5 billion.