Highland Global Allocation Fund (NASDAQ:HGLB) Stock Falls 2.2% – Time to Sell?

by · The Markets Daily

Highland Global Allocation Fund (NASDAQ:HGLB – Get Free Report) dropped 2.2% during mid-day trading on Friday. The stock traded as low as $6.30 and last traded at $6.3450. Approximately 51,892 shares were traded during mid-day trading, a decline of 38% from the average session volume of 84,051 shares. The stock had previously closed at $6.49.

Highland Global Allocation Fund Price Performance

The firm has a 50-day simple moving average of $7.03 and a 200 day simple moving average of $7.54.

Highland Global Allocation Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 24th will be given a $0.0850 dividend. The ex-dividend date of this dividend is Thursday, December 24th. This represents a $1.02 annualized dividend and a dividend yield of 16.1%.

Institutional Investors Weigh In On Highland Global Allocation Fund

Large investors have recently modified their holdings of the stock. Concorde Asset Management LLC purchased a new stake in shares of Highland Global Allocation Fund during the 2nd quarter valued at about $90,000. Integrated Wealth Concepts LLC acquired a new position in Highland Global Allocation Fund during the 2nd quarter worth approximately $94,000. Advisory Solutions Group LLC purchased a new position in Highland Global Allocation Fund in the 2nd quarter worth approximately $852,000. Landscape Capital Management L.L.C. purchased a new position in Highland Global Allocation Fund in the 2nd quarter worth approximately $1,512,000. Finally, NewEdge Advisors LLC boosted its holdings in Highland Global Allocation Fund by 15.6% in the 1st quarter. NewEdge Advisors LLC now owns 211,407 shares of the company’s stock worth $1,698,000 after acquiring an additional 28,598 shares during the period. Institutional investors and hedge funds own 28.79% of the company’s stock.

About Highland Global Allocation Fund

(Get Free Report)

Highland Global Allocation Fund (NASDAQ: HGLB) is a closed-end investment fund that seeks to provide investors with total return through a globally diversified portfolio of securities. The fund allocates assets among investments in the United States and international markets, including both developed and emerging economies.

Its portfolio may include common stocks, preferred stocks, corporate and government debt securities, high-yield bonds, and other income-producing investments. The fund may also use derivatives and other investment strategies to manage exposure to markets, currencies, interest rates, and credit risk.

Highland Global Allocation Fund is advised by an affiliate of Highland Capital Management, an investment management firm known for managing alternative and income-oriented strategies.

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