Highland Global Allocation Fund (NASDAQ:HGLB) Stock Price Down 0.8% – Time to Sell?

Highland Global Allocation Fund (NASDAQ:HGLB) shares fell 0.8% during trading on Monday . The stock traded as low as $7.65 and last traded at $7.68. 30,748 shares changed hands during trading, a decline of 53% from the average session volume of 65,739 shares. The stock had previously closed at $7.74.

Highland Global Allocation Fund Price Performance

The stock has a 50 day moving average of $7.73 and a 200 day moving average of $7.65.

Highland Global Allocation Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 24th will be issued a $0.081 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 12.66%. The ex-dividend date of this dividend is Tuesday, December 24th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HGLB. HighTower Advisors LLC boosted its holdings in shares of Highland Global Allocation Fund by 12.4% during the 3rd quarter. HighTower Advisors LLC now owns 18,315 shares of the company’s stock valued at $139,000 after acquiring an additional 2,027 shares in the last quarter. Arete Wealth Advisors LLC raised its position in Highland Global Allocation Fund by 65.1% in the third quarter. Arete Wealth Advisors LLC now owns 24,124 shares of the company’s stock valued at $189,000 after purchasing an additional 9,515 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Highland Global Allocation Fund by 12.3% during the third quarter. Oppenheimer & Co. Inc. now owns 41,100 shares of the company’s stock valued at $323,000 after purchasing an additional 4,500 shares in the last quarter. Shaker Financial Services LLC grew its holdings in shares of Highland Global Allocation Fund by 7.0% during the third quarter. Shaker Financial Services LLC now owns 657,548 shares of the company’s stock worth $5,168,000 after purchasing an additional 43,284 shares during the last quarter. Finally, International Assets Investment Management LLC increased 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 buying an additional 16,037 shares during the period. Institutional investors and hedge funds 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.