Lazard Global Total Return and Income Fund (NYSE:LGI) Share Price Passes Below 50-Day Moving Average – Here’s Why

Lazard Global Total Return and Income Fund, Inc. (NYSE:LGI)’s share price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $16.39 and traded as low as $16.09. Lazard Global Total Return and Income Fund shares last traded at $16.16, with a volume of 42,510 shares.

Lazard Global Total Return and Income Fund Price Performance

The business’s 50-day moving average price is $16.37 and its two-hundred day moving average price is $16.82.

Lazard Global Total Return and Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 10th will be paid a $0.1494 dividend. This represents a $1.79 dividend on an annualized basis and a yield of 10.87%. This is a positive change from Lazard Global Total Return and Income Fund’s previous monthly dividend of $0.12. The ex-dividend date of this dividend is Friday, January 10th.

Hedge Funds Weigh In On Lazard Global Total Return and Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of LGI. Benjamin Edwards Inc. acquired a new position in shares of Lazard Global Total Return and Income Fund in the 3rd quarter valued at $1,469,000. Sanctuary Advisors LLC acquired a new position in Lazard Global Total Return and Income Fund in the second quarter valued at $698,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Lazard Global Total Return and Income Fund in the 3rd quarter valued at about $260,000. Finally, Stifel Financial Corp grew its stake in Lazard Global Total Return and Income Fund by 9.6% during the third quarter. Stifel Financial Corp now owns 83,928 shares of the company’s stock worth $1,522,000 after buying an additional 7,328 shares during the period.

About Lazard Global Total Return and Income Fund

Lazard Global Total Return and Income Fund, Inc is a closed ended balanced mutual fund launched and managed by Lazard Asset Management LLC. It invests in public equity and fixed income markets across the globe. The fund primarily invests in stocks of companies with market capitalization over $5 billion.