Lazard Global Total Return and Income Fund, Inc. (NYSE:LGI) sees sharp drop in short-term interest


Lazard Global Total Return and Income Fund, Inc. (NYSE: LGIGet a rating) benefited from a significant drop in short-term interest rates in June. As of June 15, there was short interest totaling 7,400 shares, down 66.8% from the May 31 total of 22,300 shares. Based on an average daily volume of 38,100 shares, the day-to-cover ratio is currently 0.2 days.

Shares of NYSE: LGI opened at $15.51 on Wednesday. The Lazard Global Total Return and Income Fund has a 1-year low of $14.06 and a 1-year high of $22.32. The stock’s fifty-day moving average price is $15.65 and its 200-day moving average price is $17.63.

The company also recently announced a monthly dividend, which will be paid on Friday, July 22. Shareholders of record on Monday, July 11 will receive a dividend of $0.1247. This represents a dividend of $1.50 on an annualized basis and a yield of 9.65%. The ex-date of this dividend is Friday, July 8.

Hedge funds have recently been buying and selling shares of the company. Centaurus Financial Inc. increased its holdings in the Lazard Global Total Return and Income Fund by 15.8% in the first quarter. Centaurus Financial Inc. now owns 7,368 shares of the company valued at $132,000 after acquiring an additional 1,006 shares during the period. Landscape Capital Management LLC bought a new position in Lazard Global Total Return and Income Fund in the fourth quarter, valued at approximately $202,000. National Asset Management Inc. bought a new position in the Lazard Global Total Return and Income Fund in the first quarter, valued at around $228,000. Steward Partners Investment Advisory LLC increased its holdings in Lazard Global Total Return and Income Fund by 18.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 13,132 shares of the company valued at $235,000 after acquiring an additional 2,050 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in the Lazard Global Total Return and Income Fund by 8.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 19,761 shares of the company valued at $399,000 after acquiring an additional 1,540 shares during the period.

Lazard Global Total Return and Income Fund Company Profile (Get a rating)

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

See also



Receive daily news and reviews for the Lazard Global Total Return and Income Fund – Enter your email address below to receive a concise daily summary of the latest news and analyst notes for Lazard Global Total Return & Income Fund and related companies with MarketBeat.com’s FREE daily email newsletter.

Comments are closed.