Highland Global Allocation Fund (HGLB) to Issue Monthly Dividend of $0.08 on September 29th

Posted by Doug Madison on Sep 19th, 2023

Highland Global Allocation Fund (NASDAQ:HGLB – Get Free Report) declared a monthly dividend on Wednesday, July 5th, Wall Street Journal reports. Investors of record on Friday, September 22nd will be paid a dividend of 0.084 per share on Friday, September 29th. This represents a $1.01 annualized dividend and a yield of 11.86%. The ex-dividend date is Thursday, September 21st.

Highland Global Allocation Fund Stock Performance

Highland Global Allocation Fund stock opened at $8.50 on Tuesday. Highland Global Allocation Fund has a 1-year low of $7.71 and a 1-year high of $10.41. The firm’s fifty day simple moving average is $8.39 and its 200-day simple moving average is $8.68.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HGLB. Morgan Stanley grew its stake in Highland Global Allocation Fund by 1.0% in the 4th quarter. Morgan Stanley now owns 832,959 shares of the company’s stock valued at $7,846,000 after buying an additional 8,120 shares during the last quarter. Cetera Advisor Networks LLC acquired a new position in shares of Highland Global Allocation Fund during the 4th quarter worth about $1,649,000. LPL Financial LLC boosted its stake in Highland Global Allocation Fund by 318.7% during the 1st quarter. LPL Financial LLC now owns 173,965 shares of the company’s stock valued at $1,573,000 after purchasing an additional 132,412 shares during the period. Wells Fargo & Company MN grew its holdings in Highland Global Allocation Fund by 2.2% in the 4th quarter. Wells Fargo & Company MN now owns 162,791 shares of the company’s stock valued at $1,533,000 after buying an additional 3,551 shares during the last quarter. Finally, Sovereign Financial Group Inc. increased its position in Highland Global Allocation Fund by 6.5% in the 4th quarter. Sovereign Financial Group Inc. now owns 116,858 shares of the company’s stock worth $1,101,000 after buying an additional 7,173 shares during the period. 28.79% of the stock is owned by institutional investors.

About Highland Global Allocation Fund

(Get Free Report)

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.