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

Highland Global Allocation Fund (NASDAQ:HGLB)’s stock price was down 3.5% on Thursday . The stock traded as low as $6.89 and last traded at $6.92. Approximately 272,493 shares traded hands during trading, an increase of 219% from the average daily volume of 85,424 shares. The stock had previously closed at $7.17.

Highland Global Allocation Fund Stock Down 3.5 %

The company’s 50 day moving average price is $7.56 and its 200-day moving average price is $7.76.

Highland Global Allocation Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 21st will be given a $0.081 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.97 dividend on an annualized basis and a dividend yield of 14.05%.

Hedge Funds Weigh In On Highland Global Allocation Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baystate Wealth Management LLC acquired a new position in Highland Global Allocation Fund during the fourth quarter valued at $48,000. International Assets Investment Management LLC acquired a new position in shares of Highland Global Allocation Fund in the 4th quarter valued at about $82,000. Eagle Rock Investment Company LLC purchased a new stake in shares of Highland Global Allocation Fund in the first quarter worth approximately $230,000. Principal Securities Inc. acquired a new stake in shares of Highland Global Allocation Fund during the fourth quarter worth approximately $269,000. Finally, Capital Investment Advisors LLC grew its position in 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. 28.79% of the stock is currently owned by hedge funds and other institutional investors.

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.