Welcome to our dedicated page for Clough Global Equity Fund news (Ticker: GLQ), a resource for investors and traders seeking the latest updates and insights on Clough Global Equity Fund stock.
Clough Global Equity Fund (symbol: GLQ) is a closed-end management investment company dedicated to generating a high level of total return for its investors. The Fund primarily invests in equity and equity-related securities, as well as fixed-income securities, spanning both U.S. and international markets. This diversified approach allows the Fund to capitalize on global opportunities and manage risks effectively.
Utilizing Clough Capital Partners L.P.'s research-driven and thematic investment process, the Fund maintains a flexible mandate, investing at least 80% in equity and equity-related securities and the remainder in fixed income securities, including corporate and sovereign debt. The portfolio managers, Chuck Clough and Bill Whelan, leverage their extensive expertise to navigate market complexities and identify value opportunities worldwide.
The Fund's managed distribution policy aims to provide reliable monthly cash distributions. For instance, recent distributions have been set at $0.0603 per common share, reflecting the annualized rate of 10% of the Fund's adjusted year-end net asset value per share. These distributions may include short-term capital gain, long-term capital gain, and return of capital.
As of March 31, 2024, the Fund had approximately $200.9 million in total assets, highlighting its significant market presence. Additionally, the Fund's share repurchase program, renewed in June 2024, enables it to purchase up to 5% of its outstanding common shares, enhancing shareholder value by taking advantage of market discounts.
Clough Capital Partners L.P., the Boston-based investment advisory firm managing the Fund, oversees approximately $1.2 billion in assets. This includes hedge funds, institutional accounts, exchange-traded funds, and other closed-end funds such as Clough Global Dividend and Income Fund (GLV) and Clough Global Opportunities Fund (GLO).
Investors should consider the Fund's objectives, risks, charges, and expenses carefully before investing. The Fund trades in the secondary market, and shares are bought or sold through intermediaries or brokers. For more detailed information, including the Fund's dividend reinvestment plan and annual or semi-annual reports, prospective investors are encouraged to visit the Fund's website or contact their customer service line.
On April 30, 2024, Clough Global Equity Fund (GLQ) paid a monthly distribution of $0.0603 per share to shareholders of record. The distribution breakdown includes net investment income, short and long-term capital gains, and return of capital. The fiscal year-to-date distribution shows a majority from return of capital. Shareholders may receive a Form 1099-DIV for tax reporting. NAV performance indicates a 27.43% cumulative total return. The distribution amount does not reflect investment performance.
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