Highland Global Allocation Fund (NASDAQ:HGLB) Trading Up 1.6%

Highland Global Allocation Fund (NASDAQ:HGLB)’s stock price was up 1.6% during trading on Friday . The stock traded as high as $8.16 and last traded at $8.08. Approximately 152,462 shares changed hands during mid-day trading, an increase of 108% from the average daily volume of 73,229 shares. The stock had previously closed at $7.95.

Highland Global Allocation Fund Price Performance

The company’s 50 day simple moving average is $7.72 and its 200 day simple moving average is $8.21.

Highland Global Allocation Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 22nd will be paid a $0.084 dividend. The ex-dividend date is Thursday, December 21st. This represents a $1.01 annualized dividend and a yield of 12.37%.

Institutional Investors Weigh In On Highland Global Allocation Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG bought a new position in shares of Highland Global Allocation Fund during the 3rd quarter valued at approximately $28,000. Ameritas Advisory Services LLC bought a new position in shares of Highland Global Allocation Fund during the 1st quarter valued at approximately $34,000. Virtu Financial LLC bought a new position in shares of Highland Global Allocation Fund during the 1st quarter valued at approximately $115,000. Landscape Capital Management L.L.C. bought a new position in shares of Highland Global Allocation Fund during the 1st quarter valued at approximately $115,000. Finally, Nations Financial Group Inc. IA ADV bought a new position in shares of Highland Global Allocation Fund during the 1st quarter valued at approximately $133,000. Hedge funds and other institutional investors own 28.79% of the company’s stock.

About Highland Global Allocation Fund

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.