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

Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) was the target of a large growth in short interest in the month of 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 daily trading volume, of 162,719 shares, the days-to-cover ratio is presently 0.1 days.

Highland Funds I – Highland Opportunities and Income Fund Stock Performance

Highland Funds I – Highland Opportunities and Income Fund stock traded up $0.06 during mid-day trading on Friday, hitting $7.09. 96,554 shares of the company were exchanged, compared to its average volume of 129,362. The business’s 50 day simple moving average is $6.24 and its two-hundred day simple moving average is $6.14. Highland Funds I – Highland Opportunities and Income Fund has a 12-month low of $5.03 and a 12-month high of $7.27.

Highland Funds I – Highland Opportunities and Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of $0.0385 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Tuesday, June 23rd.

Highland Funds I – Highland Opportunities and Income Fund declared that its Board of Directors has approved a share buyback program on Tuesday, June 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Highland Funds I – Highland Opportunities and Income Fund

In other Highland Funds I – Highland Opportunities and Income Fund news, major shareholder Saba Capital Management, L.P. purchased 123,589 shares of Highland Funds I – Highland Opportunities and Income Fund stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average cost of $6.88 per share, with a total value of $850,292.32. Following the acquisition, the insider directly owned 5,976,204 shares of the company’s stock, valued at $41,116,283.52. This represents a 2.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders purchased 417,994 shares of company stock valued at $2,760,184.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Abel Hall LLC lifted its stake in shares of Highland Funds I – Highland Opportunities and Income Fund by 50.0% during the first quarter. Abel Hall LLC now owns 30,000 shares of the company’s stock worth $171,000 after purchasing an additional 10,000 shares in the last quarter. K2 Principal Fund L.P. acquired a new position in shares of Highland Funds I – Highland Opportunities and Income Fund during the fourth quarter worth about $60,000. Concorde Asset Management LLC lifted its stake in shares of Highland Funds I – Highland Opportunities and Income Fund by 112.3% in the fourth quarter. Concorde Asset Management LLC now owns 139,460 shares of the company’s stock worth $834,000 after acquiring an additional 73,760 shares in the last quarter. Gilpin Wealth Management LLC acquired a new position in shares of Highland Funds I – Highland Opportunities and Income Fund in the fourth quarter worth about $544,000. Finally, Closed End Fund Advisors Inc. acquired a new position in shares of Highland Funds I – Highland Opportunities and Income Fund in the fourth quarter worth about $1,406,000.

Highland Funds I – Highland Opportunities and Income Fund Company Profile

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.