Highland Global Allocation Fund Plans Monthly Dividend of $0.09 (NASDAQ:HGLB)

Highland Global Allocation Fund (NASDAQ:HGLB) announced a monthly dividend on Wednesday, April 1st. Stockholders of record on Friday, May 22nd will be paid a dividend of 0.085 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date of this dividend is Friday, May 22nd.

Highland Global Allocation Fund Trading Up 0.7%

Shares of NASDAQ:HGLB opened at $8.10 on Wednesday. Highland Global Allocation Fund has a one year low of $7.53 and a one year high of $10.64. The stock has a fifty day moving average of $8.19 and a 200-day moving average of $8.87.

Institutional Investors Weigh In On Highland Global Allocation Fund

Several hedge funds have recently made changes to their positions in HGLB. Bank of America Corp DE purchased a new stake in shares of Highland Global Allocation Fund in the 4th quarter valued at approximately $32,000. NewEdge Advisors LLC purchased a new position in shares of Highland Global Allocation Fund during the second quarter valued at $90,000. Raymond James Financial Inc. grew its holdings in shares of Highland Global Allocation Fund by 1.4% during the second quarter. Raymond James Financial Inc. now owns 2,490,134 shares of the company’s stock valued at $21,674,000 after buying an additional 33,750 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Highland Global Allocation Fund in the second quarter worth approximately $111,000. Finally, BankPlus Wealth Management LLC purchased a new position in shares of Highland Global Allocation Fund during the 3rd quarter valued at $145,000. Hedge funds and other institutional investors own 28.79% of the company’s stock.

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.