Lazard Global Total Return and Income Fund (NYSE:LGI) Shares Cross Above Fifty Day Moving Average – Here’s Why

Lazard Global Total Return and Income Fund, Inc. (NYSE:LGI)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $16.38 and traded as high as $16.88. Lazard Global Total Return and Income Fund shares last traded at $16.86, with a volume of 28,900 shares trading hands.

Lazard Global Total Return and Income Fund Stock Down 0.7 %

The company’s fifty day moving average is $16.39 and its 200-day moving average is $16.82.

Lazard Global Total Return and Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 21st. Stockholders of record on Monday, February 10th will be given a dividend of $0.1465 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.76 annualized dividend and a dividend yield of 10.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Lazard Global Total Return and Income Fund during the third quarter valued at about $260,000. Mezzasalma Advisors LLC bought a new position in shares of Lazard Global Total Return and Income Fund during the 4th quarter valued at approximately $512,000. Sanctuary Advisors LLC bought a new stake in Lazard Global Total Return and Income Fund in the second quarter worth $698,000. Wolverine Asset Management LLC purchased a new position in shares of Lazard Global Total Return and Income Fund in the 4th quarter worth $779,000. Finally, Benjamin Edwards Inc. purchased a new position in Lazard Global Total Return and Income Fund in the third quarter worth about $1,469,000.

Lazard Global Total Return and Income Fund Company Profile

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.