Highland Global Allocation Fund (NASDAQ:HGLB) Shares Up 0.5% – Still a Buy?

Highland Global Allocation Fund (NASDAQ:HGLB) shares shot up 0.5% during mid-day trading on Friday . The stock traded as high as $7.78 and last traded at $7.75. 37,476 shares were traded during trading, a decline of 45% from the average session volume of 67,940 shares. The stock had previously closed at $7.71.

Highland Global Allocation Fund Stock Performance

The firm’s 50-day moving average is $7.81 and its 200 day moving average is $7.57.

Highland Global Allocation Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 24th will be given a $0.081 dividend. This represents a $0.97 annualized dividend and a dividend yield of 12.54%. The ex-dividend date is Tuesday, December 24th.

Institutional Investors Weigh In On Highland Global Allocation Fund

Several large investors have recently made changes to their positions in the business. Hartline Investment Corp purchased a new position in shares of Highland Global Allocation Fund in the first quarter valued at $116,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Highland Global Allocation Fund by 10.0% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 16,047 shares of the company’s stock valued at $126,000 after purchasing an additional 1,459 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Highland Global Allocation Fund by 1,209.4% in the third quarter. International Assets Investment Management LLC now owns 17,363 shares of the company’s stock valued at $1,360,000 after purchasing an additional 16,037 shares during the period. BOKF NA boosted its stake in shares of Highland Global Allocation Fund by 3.8% in the first quarter. BOKF NA now owns 82,753 shares of the company’s stock valued at $628,000 after purchasing an additional 3,034 shares during the period. Finally, Private Advisor Group LLC boosted its stake in shares of Highland Global Allocation Fund by 1.3% in the third 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. Institutional investors and hedge funds own 28.79% of the company’s stock.

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.