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

Highland Global Allocation Fund (NASDAQ:HGLB) announced a monthly dividend on Wednesday, April 2nd, Wall Street Journal reports. Shareholders of record on Monday, June 23rd will be paid 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 is Monday, June 23rd.

Highland Global Allocation Fund has raised its dividend payment by an average of 4.3% per year over the last three years.

Highland Global Allocation Fund Stock Performance

HGLB opened at $8.31 on Thursday. Highland Global Allocation Fund has a 1 year low of $6.75 and a 1 year high of $8.44. The stock’s 50 day simple moving average is $8.14 and its 200-day simple moving average is $7.80.

Hedge Funds Weigh In On Highland Global Allocation Fund

A hedge fund recently bought a new stake in Highland Global Allocation Fund stock. Bank of America Corp DE purchased a new position in Highland Global Allocation Fund (NASDAQ:HGLB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,686 shares of the company’s stock, valued at approximately $32,000. 28.79% of the stock is currently owned by 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.