Highland Global Allocation Fund (NASDAQ:HGLB) Trading Up 0.1% – Time to Buy?

Highland Global Allocation Fund (NASDAQ:HGLB)’s share price traded up 0.1% during trading on Thursday . The stock traded as high as $7.53 and last traded at $7.45. Approximately 89,963 shares changed hands during mid-day trading, an increase of 12% from the average daily volume of 80,236 shares. The stock had previously closed at $7.44.

Highland Global Allocation Fund Stock Performance

The firm’s fifty day moving average price is $7.50 and its two-hundred day moving average price is $7.95.

Highland Global Allocation Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be given a dividend of $0.085 per share. This represents a c) annualized dividend and a yield of 13.7%. The ex-dividend date is Wednesday, September 23rd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HGLB. Raymond James Financial Inc. increased its stake in shares of Highland Global Allocation Fund by 1.4% in the 2nd quarter. Raymond James Financial Inc. now owns 2,490,134 shares of the company’s stock valued at $21,674,000 after purchasing an additional 33,750 shares in the last quarter. LPL Financial LLC boosted its position in Highland Global Allocation Fund by 16.4% during the fourth quarter. LPL Financial LLC now owns 866,872 shares of the company’s stock worth $7,915,000 after purchasing an additional 122,226 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Highland Global Allocation Fund by 15.6% in the first quarter. NewEdge Advisors LLC now owns 211,407 shares of the company’s stock valued at $1,698,000 after purchasing an additional 28,598 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in Highland Global Allocation Fund in the second quarter valued at approximately $1,512,000. Finally, Quantedge Capital Pte Ltd increased its position in shares of Highland Global Allocation Fund by 8.9% in the first quarter. Quantedge Capital Pte Ltd now owns 188,987 shares of the company’s stock valued at $1,518,000 after buying an additional 15,400 shares in the last quarter. Institutional investors and hedge funds 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.