Highland Global Allocation Fund Announces Monthly Dividend of $0.09 (NASDAQ:HGLB)

Highland Global Allocation Fund (NASDAQ:HGLB) declared a monthly dividend on Wednesday, April 2nd, Wall Street Journal reports. Stockholders of record on Monday, June 23rd will be paid a dividend of 0.088 per share on Monday, June 30th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 12.71%. The ex-dividend date of this dividend is Monday, June 23rd.

Highland Global Allocation Fund has increased its dividend payment by an average of 4.3% per year over the last three years.

Highland Global Allocation Fund Price Performance

HGLB traded down $0.05 on Wednesday, reaching $8.31. The stock had a trading volume of 58,458 shares, compared to its average volume of 70,619. The firm has a 50-day moving average of $8.13 and a 200-day moving average of $7.80. Highland Global Allocation Fund has a fifty-two week low of $6.75 and a fifty-two week high of $8.42.

Hedge Funds Weigh In On Highland Global Allocation Fund

A hedge fund recently bought a new stake in Highland Global Allocation Fund stock. Bank of America Corp DE acquired a new position in Highland Global Allocation Fund (NASDAQ:HGLB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,686 shares of the company’s stock, valued at approximately $32,000. Hedge funds and other institutional investors own 28.79% of the company’s stock.

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.