Highland Global Allocation Fund (NASDAQ:HGLB) Trading Up 1.1% on Insider Buying Activity

Highland Global Allocation Fund (NASDAQ:HGLB)’s share price was up 1.1% on Tuesday after an insider bought additional shares in the company. The stock traded as high as $7.64 and last traded at $7.59. Approximately 61,934 shares changed hands during trading, a decline of 21% from the average daily volume of 78,880 shares. The stock had previously closed at $7.51.

Specifically, Director Ethan Powell acquired 6,750 shares of Highland Global Allocation Fund stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $7.47 per share, with a total value of $50,422.50. Following the purchase, the director now owns 6,750 shares in the company, valued at approximately $50,422.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 24.52% of the company’s stock.

Highland Global Allocation Fund Stock Up 1.1 %

The company’s fifty day moving average price is $7.34 and its 200 day moving average price is $7.64.

Institutional Trading of Highland Global Allocation Fund

A number of large investors have recently added to or reduced their stakes in HGLB. Baystate Wealth Management LLC bought a new position in Highland Global Allocation Fund during the fourth quarter worth about $48,000. International Assets Investment Management LLC bought a new position in Highland Global Allocation Fund during the fourth quarter worth about $82,000. Hartline Investment Corp bought a new position in Highland Global Allocation Fund during the first quarter worth about $116,000. Eagle Rock Investment Company LLC bought a new position in Highland Global Allocation Fund during the first quarter worth about $230,000. Finally, Principal Securities Inc. bought a new position in Highland Global Allocation Fund during the fourth quarter worth about $269,000. Hedge funds and other institutional investors own 28.79% of the company’s stock.

About Highland Global Allocation Fund

Highland Global Allocation Fund is a closed-end fund designed to provide low correlation to U.S. equity market.

Thr fund applies global thematic investment style, pursuing investments that management team views as undervalued, built around high-conviction themes.