Highland Global Allocation Fund (NASDAQ:HGLB) Trading Up 0.6% – Time to Buy?

Highland Global Allocation Fund (NASDAQ:HGLB)’s share price was up 0.6% on Monday . The company traded as high as $8.23 and last traded at $8.2190. Approximately 80,524 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 72,348 shares. The stock had previously closed at $8.17.

Highland Global Allocation Fund Price Performance

The business’s 50-day simple moving average is $8.50 and its two-hundred day simple moving average is $9.13.

Highland Global Allocation Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.085 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 12.5%.

Hedge Funds Weigh In On Highland Global Allocation Fund

Several large investors have recently modified their holdings of HGLB. Bank of America Corp DE bought a new position in shares of Highland Global Allocation Fund during the fourth quarter valued at $32,000. NewEdge Advisors LLC bought a new position in shares of Highland Global Allocation Fund during the second quarter valued at $90,000. Raymond James Financial Inc. raised its stake 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 acquiring an additional 33,750 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Highland Global Allocation Fund during the second quarter valued at $111,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Highland Global Allocation Fund during the second quarter valued at $44,000. 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.