Short Interest in Highland Global Allocation Fund (NASDAQ:HGLB) Grows By 68.0%

Highland Global Allocation Fund (NASDAQ:HGLB) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 58,300 shares, a growth of 68.0% from the May 15th total of 34,700 shares. Based on an average daily trading volume, of 87,800 shares, the short-interest ratio is presently 0.7 days.

Highland Global Allocation Fund Trading Down 0.4%

Shares of HGLB stock traded down $0.04 on Tuesday, reaching $9.01. 21,493 shares of the stock were exchanged, compared to its average volume of 71,148. The firm has a 50 day moving average of $8.17 and a two-hundred day moving average of $7.93. Highland Global Allocation Fund has a 1-year low of $6.62 and a 1-year high of $9.09.

Highland Global Allocation Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.088 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $1.06 annualized dividend and a yield of 11.72%.

Hedge Funds Weigh In On Highland Global Allocation Fund

A number of large investors have recently modified their holdings of the company. Bank of America Corp DE acquired a new position in Highland Global Allocation Fund during the fourth quarter valued at approximately $32,000. IFP Advisors Inc acquired a new stake in Highland Global Allocation Fund in the 4th quarter valued at $78,000. XTX Topco Ltd purchased a new position in Highland Global Allocation Fund in the fourth quarter valued at about $86,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Highland Global Allocation Fund during the fourth quarter worth about $91,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of Highland Global Allocation Fund in the first quarter worth about $93,000. 28.79% of the stock is currently owned by hedge funds and other institutional investors.

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.