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

Highland Global Allocation Fund (NASDAQ:HGLB) announced a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Investors 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 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 by an average of 4.3% per year over the last three years.

Highland Global Allocation Fund Stock Down 0.6 %

Shares of HGLB stock opened at $8.31 on Thursday. The firm’s 50 day moving average price is $8.14 and its two-hundred day moving average price is $7.80. Highland Global Allocation Fund has a 52-week low of $6.75 and a 52-week high of $8.44.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Highland Global Allocation Fund stock. Bank of America Corp DE bought a new stake 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 and Exchange Commission (SEC). The institutional investor bought 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.

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.