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.
The Clough Global Equity Fund (NYSE American:GLQ) paid a monthly distribution of $0.0603 per share on August 30, 2024. The distribution is entirely classified as a return of capital. For the fiscal year-to-date, 99.37% of distributions have been return of capital. The Fund's annualized distribution rate is 9.06% of NAV, with a cumulative total return on NAV of 34.78% for the fiscal year to date. The Fund's 5-year average annual total return is 2.93%. The Board of Trustees continues to monitor the Fund's distribution level, considering factors such as NAV and market conditions. Shareholders are cautioned not to draw conclusions about the Fund's investment performance from the distribution amount or policy.
The Clough Global Equity Fund (NYSE American:GLQ) paid a monthly distribution of $0.0603 per share on July 31, 2024. The entire distribution is classified as a return of capital. For the fiscal year-to-date, 99.30% of distributions have been return of capital, with 0.70% from net investment income.
Key performance metrics include:
- Annualized Distribution Rate: 8.81% of NAV
- Cumulative Distribution Rate: 6.60% of NAV
- Cumulative Total Return: 37.30% (fiscal year-to-date)
- 5-Year Average Annual Total Return: 3.47%
The Clough Global Equity Fund announced monthly cash distributions of $0.0603 per share for July, August, and September 2024. The distribution dates are as follows: Ex-Date and Record Date on July 19, 2024, payable on July 31, 2024; Ex-Date and Record Date on August 16, 2024, payable on August 30, 2024; and Ex-Date and Record Date on September 17, 2024, payable on September 30, 2024. These distributions amount to one-twelfth of 10% of the Fund's adjusted year-end net asset value per share.
The Fund, managed by Clough Capital Partners, invests at least 80% in equity and equity-related securities globally and the remainder in fixed income securities. As of June 30, 2024, the Fund's total assets were approximately $229.9 million.
Clough Capital Partners manages around $1.3 billion in assets across hedge funds, institutional accounts, exchange-traded funds, and closed-end funds. Potential investors are advised to review the Fund's prospectus for detailed investment objectives, risks, charges, and expenses.
The Clough Global Equity Fund (NYSE American: GLQ) announced a monthly distribution of $0.0603 per share on June 28, 2024, to shareholders recorded on June 17, 2024. This distribution is entirely sourced from the return of capital. Fiscal year-to-date, the cumulative distribution per share is $0.48160, with 99.22% from return of capital and 0.78% from net investment income. The annualized distribution rate based on NAV is 9.18%, while the cumulative distribution rate is 6.11%. The fund's fiscal year-to-date total return on NAV is 30.65%, and the 5-year average annual total return on NAV is 3.50%. The actual tax reporting amounts will be provided via Form 1099-DIV. The fund's distribution rate should not be confused with dividend yield or overall investment return. The Board of Trustees will review distribution levels regularly in response to financial market conditions.
The Boards of Trustees of Clough Capital Partners' closed-end funds, including Clough Global Equity Fund (GLQ), announced the renewal of their share repurchase programs through June 30, 2025.
This program allows the funds to repurchase up to 5% of their outstanding shares in open market transactions to enhance shareholder value, especially when shares trade at a discount to net asset value. Since its initiation in June 2023, GLQ has repurchased 341,800 shares.
Chairman Charles I Clough, Jr. highlighted the program's success, noting its active use since inception. The timing and amount of repurchases will depend on market conditions and other factors, with no obligation to repurchase at specific discount levels or volumes. The activity will be disclosed in annual and semi-annual reports.
On May 31, 2024, Clough Global Equity Fund (NYSE American: GLQ) announced a monthly distribution of $0.0603 per share to shareholders as of May 17, 2024. This distribution is entirely a return of capital, with no net investment income or capital gains included. Fiscal year-to-date, the fund has distributed $0.4213 per share, composed of 0.90% net investment income and 99.10% return of capital. The annualized distribution rate as a percentage of NAV is 9.52%, with an average annual total return on NAV of 1.54% over five years. The Board of Trustees reviews distribution levels regularly and may modify the policy at any time.
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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