Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) Short Interest Update

Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) saw a large growth in short interest in May. As of May 29th, there was short interest totaling 10,932 shares, a growth of 92.0% from the May 14th total of 5,694 shares. Based on an average trading volume of 162,719 shares, the days-to-cover ratio is currently 0.1 days.

Highland Funds I – Highland Opportunities and Income Fund Stock Up 1.0%

HFRO stock traded up $0.07 during midday trading on Tuesday, hitting $7.21. The company’s stock had a trading volume of 368,124 shares, compared to its average volume of 131,605. The company’s fifty day moving average price is $6.27 and its 200 day moving average price is $6.15. Highland Funds I – Highland Opportunities and Income Fund has a twelve month low of $5.03 and a twelve month high of $7.27.

Highland Funds I – Highland Opportunities and Income Fund declared that its board has authorized a share buyback plan on Tuesday, June 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Highland Funds I – Highland Opportunities and Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be given a $0.0385 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%.

Insider Activity

In other Highland Funds I – Highland Opportunities and Income Fund news, major shareholder Saba Capital Management, L.P. acquired 123,589 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $6.88 per share, with a total value of $850,292.32. Following the completion of the transaction, the insider directly owned 5,976,204 shares in the company, valued at $41,116,283.52. This trade represents a 2.11% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased 417,994 shares of company stock valued at $2,760,184 in the last 90 days.

Institutional Investors Weigh In On Highland Funds I – Highland Opportunities and Income Fund

Several large investors have recently made changes to their positions in HFRO. IFP Advisors Inc acquired a new position in Highland Funds I – Highland Opportunities and Income Fund during the fourth quarter worth $31,000. Summit Securities Group LLC acquired a new stake in Highland Funds I – Highland Opportunities and Income Fund in the fourth quarter valued at $34,000. Fifth Third Bancorp bought a new position in shares of Highland Funds I – Highland Opportunities and Income Fund in the 1st quarter valued at about $35,000. Advisory Services Network LLC bought a new position in shares of Highland Funds I – Highland Opportunities and Income Fund in the 3rd quarter valued at about $52,000. Finally, K2 Principal Fund L.P. acquired a new position in shares of Highland Funds I – Highland Opportunities and Income Fund during the 4th quarter worth about $60,000.

About Highland Funds I – Highland Opportunities and Income Fund

Highland Funds I – Highland Opportunities and Income Fund (NYSE: HFRO) is a diversified, closed-end management investment company designed to seek total return with an emphasis on current income. The fund pursues its objective by investing primarily in a broad range of credit instruments, including senior secured loans, high-yield corporate bonds, distressed debt and other special situation opportunities. In addition to its credit allocations, HFRO may also invest in equity securities, convertible instruments and derivative instruments to hedge risk or enhance yield.

Since commencing operations in 2006, Highland Opportunities and Income Fund has employed an opportunistic, value-oriented strategy to capitalize on market dislocations and mispriced assets.