Highland Global Allocation Fund (NASDAQ:HGLB) Stock Price Down 2.1% – Should You Sell?

Highland Global Allocation Fund (NASDAQ:HGLB) was down 2.1% during mid-day trading on Thursday . The stock traded as low as $7.30 and last traded at $7.3740. 101,154 shares traded hands during trading, an increase of 25% from the average session volume of 81,024 shares. The stock had previously closed at $7.53.

Highland Global Allocation Fund Trading Down 2.1%

The business’s fifty day simple moving average is $7.73 and its 200 day simple moving average is $8.25.

Highland Global Allocation Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.085 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.8%. The ex-dividend date is Wednesday, September 23rd.

Institutional Trading of Highland Global Allocation Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. boosted its stake in Highland Global Allocation Fund by 3.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 51,435 shares of the company’s stock valued at $470,000 after acquiring an additional 1,528 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Highland Global Allocation Fund by 21.0% during the 4th quarter. International Assets Investment Management LLC now owns 13,917 shares of the company’s stock valued at $127,000 after acquiring an additional 2,417 shares during the last quarter. Godfrey Financial Associates Inc. bought a new stake in shares of Highland Global Allocation Fund during the 4th quarter valued at $29,000. Bank of America Corp DE bought a new stake in shares of Highland Global Allocation Fund during the 4th quarter valued at $32,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Highland Global Allocation Fund by 306,050.0% in the 4th quarter. Wells Fargo & Company MN now owns 6,123 shares of the company’s stock valued at $56,000 after purchasing an additional 6,121 shares during the period. 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.