Lazard Global Total Return and Income Fund (NYSE:LGI) Shares Pass Below 50-Day Moving Average – Here’s Why

Lazard Global Total Return and Income Fund, Inc. (NYSE:LGI) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $16.51 and traded as low as $15.80. Lazard Global Total Return and Income Fund shares last traded at $16.01, with a volume of 54,219 shares.

Lazard Global Total Return and Income Fund Trading Down 1.4 %

The firm has a fifty day moving average price of $16.49 and a 200 day moving average price of $16.86.

Lazard Global Total Return and Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.1494 per share. The ex-dividend date is Friday, January 10th. This represents a $1.79 dividend on an annualized basis and a dividend yield of 11.37%. This is an increase from Lazard Global Total Return and Income Fund’s previous monthly dividend of $0.12.

Hedge Funds Weigh In On Lazard Global Total Return and Income Fund

Several large investors have recently modified their holdings of LGI. Benjamin Edwards Inc. purchased a new position in shares of Lazard Global Total Return and Income Fund during the third quarter worth $1,469,000. Sanctuary Advisors LLC acquired a new position in Lazard Global Total Return and Income Fund in the 2nd quarter valued at about $698,000. Wilmington Savings Fund Society FSB purchased a new stake in Lazard Global Total Return and Income Fund during the third quarter worth about $260,000. Finally, Stifel Financial Corp lifted its position in shares of Lazard Global Total Return and Income Fund by 9.6% during the third quarter. Stifel Financial Corp now owns 83,928 shares of the company’s stock worth $1,522,000 after purchasing an additional 7,328 shares in the last quarter.

About Lazard Global Total Return and Income Fund

Lazard Global Total Return and Income Fund, Inc is a closed ended balanced mutual fund launched and managed by Lazard Asset Management LLC. It invests in public equity and fixed income markets across the globe. The fund primarily invests in stocks of companies with market capitalization over $5 billion.