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

Highland Global Allocation Fund (NASDAQ:HGLB) was up 0.1% on Friday . The stock traded as high as $7.57 and last traded at $7.53. Approximately 29,972 shares changed hands during trading, a decline of 55% from the average daily volume of 66,801 shares. The stock had previously closed at $7.52.

Highland Global Allocation Fund Stock Performance

The firm has a 50-day moving average of $7.78 and a two-hundred day moving average of $7.62.

Highland Global Allocation Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 24th will be paid a dividend of $0.081 per share. The ex-dividend date is Tuesday, December 24th. This represents a $0.97 annualized dividend and a yield of 12.91%.

Hedge Funds Weigh In On Highland Global Allocation Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates increased its stake in Highland Global Allocation Fund by 15.7% during the third quarter. Raymond James & Associates now owns 2,775,627 shares of the company’s stock valued at $21,816,000 after acquiring an additional 376,150 shares during the period. Shaker Financial Services LLC increased its stake in Highland Global Allocation Fund by 7.0% during the third quarter. Shaker Financial Services LLC now owns 657,548 shares of the company’s stock valued at $5,168,000 after acquiring an additional 43,284 shares during the period. Matisse Capital grew its stake in shares of Highland Global Allocation Fund by 6.6% in the 2nd quarter. Matisse Capital now owns 362,300 shares of the company’s stock valued at $2,728,000 after purchasing an additional 22,300 shares during the period. Private Advisor Group LLC grew its stake in shares of Highland Global Allocation Fund by 1.3% in the 3rd quarter. Private Advisor Group LLC now owns 114,250 shares of the company’s stock valued at $898,000 after purchasing an additional 1,500 shares during the period. Finally, BOKF NA grew its stake in shares of Highland Global Allocation Fund by 4.7% in the 2nd quarter. BOKF NA now owns 86,673 shares of the company’s stock valued at $653,000 after purchasing an additional 3,920 shares during the period. 28.79% of the stock is currently owned by institutional investors.

Highland Global Allocation Fund Company Profile

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.