Highland Global Allocation Fund (NASDAQ:HGLB) to Issue Monthly Dividend of $0.08

Highland Global Allocation Fund (NASDAQ:HGLB) announced a monthly dividend on Wednesday, July 3rd, Wall Street Journal reports. Stockholders of record on Friday, August 23rd will be given a dividend of 0.081 per share on Friday, August 30th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 12.81%. The ex-dividend date of this dividend is Friday, August 23rd.

Highland Global Allocation Fund Price Performance

HGLB stock opened at $7.59 on Thursday. The company’s 50-day moving average price is $7.35 and its two-hundred day moving average price is $7.64. Highland Global Allocation Fund has a 12 month low of $6.42 and a 12 month high of $8.75.

Insider Buying and Selling

In other news, Director Ethan Powell acquired 6,750 shares of the stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $7.47 per share, for a total transaction of $50,422.50. Following the completion of the transaction, the director now directly owns 6,750 shares in the company, valued at $50,422.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 24.52% of the stock is currently owned by company insiders.

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.