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

Highland Global Allocation Fund (NASDAQ:HGLB) announced a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Shareholders of record on Monday, June 23rd will be given a dividend of 0.088 per share on Monday, June 30th. This represents a $1.06 annualized dividend and a 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% annually over the last three years.

Highland Global Allocation Fund Trading Down 0.6 %

Shares of HGLB stock opened at $8.31 on Thursday. Highland Global Allocation Fund has a 1 year low of $6.75 and a 1 year high of $8.44. The firm’s 50 day moving average is $8.14 and its 200-day moving average is $7.80.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Highland Global Allocation Fund stock. Bank of America Corp DE purchased a new stake in shares of Highland Global Allocation Fund (NASDAQ:HGLB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,686 shares of the company’s stock, valued at approximately $32,000. 28.79% of the stock is owned by hedge funds and other institutional investors.

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.