Highland Global Allocation Fund (NASDAQ:HGLB) Trading Up 1.1% on Insider Buying Activity

Highland Global Allocation Fund (NASDAQ:HGLB)’s stock price was up 1.1% on Tuesday following insider buying activity. The company traded as high as $7.64 and last traded at $7.59. Approximately 61,934 shares traded hands during trading, a decline of 21% from the average daily volume of 78,880 shares. The stock had previously closed at $7.51.

Specifically, Director Ethan Powell purchased 6,750 shares of Highland Global Allocation Fund stock in a transaction on Friday, June 28th. The shares were bought at an average price of $7.47 per share, with a total value of $50,422.50. Following the purchase, the director now directly owns 6,750 shares in the company, valued at approximately $50,422.50. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 24.52% of the company’s stock.

Highland Global Allocation Fund Price Performance

The firm has a 50-day moving average of $7.34 and a two-hundred day moving average of $7.64.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. BOKF NA raised its position in shares of Highland Global Allocation Fund by 3.8% in the 1st quarter. BOKF NA now owns 82,753 shares of the company’s stock worth $628,000 after buying an additional 3,034 shares during the period. Matisse Capital raised its position in shares of Highland Global Allocation Fund by 17.6% in the 1st quarter. Matisse Capital now owns 340,000 shares of the company’s stock worth $2,604,000 after buying an additional 51,000 shares during the period. Hartline Investment Corp purchased a new position in shares of Highland Global Allocation Fund in the 1st quarter worth $116,000. Raymond James & Associates increased its holdings in Highland Global Allocation Fund by 66.8% in the 1st quarter. Raymond James & Associates now owns 1,814,006 shares of the company’s stock valued at $13,895,000 after purchasing an additional 726,647 shares in the last quarter. Finally, Sovereign Financial Group Inc. increased its holdings in Highland Global Allocation Fund by 6.2% in the 1st quarter. Sovereign Financial Group Inc. now owns 164,770 shares of the company’s stock valued at $1,262,000 after purchasing an additional 9,658 shares in the last quarter. 28.79% of the stock is owned by hedge funds and other institutional investors.

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.