Highland Global Allocation Fund (NASDAQ:HGLB) Trading Up 1.1% – Here’s What Happened

Highland Global Allocation Fund (NASDAQ:HGLB)’s stock price traded up 1.1% during mid-day trading on Wednesday . The company traded as high as $8.91 and last traded at $8.7960. 50,839 shares traded hands during trading, a decline of 38% from the average session volume of 81,819 shares. The stock had previously closed at $8.70.

Highland Global Allocation Fund Price Performance

The company’s fifty day moving average is $9.04 and its 200 day moving average is $9.17.

Highland Global Allocation Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be paid a $0.085 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.6%. The ex-dividend date of this dividend is Tuesday, March 24th.

Institutional Trading of Highland Global Allocation Fund

A number of institutional investors have recently added to or reduced their stakes in HGLB. NewEdge Advisors LLC boosted its position in shares of Highland Global Allocation Fund by 1,672.7% in the third quarter. NewEdge Advisors LLC now owns 182,745 shares of the company’s stock worth $1,661,000 after buying an additional 172,436 shares during the period. LPL Financial LLC lifted its position in Highland Global Allocation Fund by 16.4% during the 4th quarter. LPL Financial LLC now owns 866,872 shares of the company’s stock worth $7,915,000 after acquiring an additional 122,226 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Highland Global Allocation Fund by 30.1% in the 2nd quarter. Osaic Holdings Inc. now owns 309,856 shares of the company’s stock worth $2,696,000 after acquiring an additional 71,742 shares during the period. NWF Advisory Services Inc. grew its position in Highland Global Allocation Fund by 24.1% in the third quarter. NWF Advisory Services Inc. now owns 291,581 shares of the company’s stock valued at $2,650,000 after acquiring an additional 56,600 shares in the last quarter. Finally, Shaker Financial Services LLC purchased a new stake in shares of Highland Global Allocation Fund during the fourth quarter valued at approximately $341,000. 28.79% of the stock is owned by hedge funds and other institutional investors.

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.