Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) Sees Large Drop in Short Interest

Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 5,388 shares, a decrease of 67.7% from the August 15th total of 16,702 shares. Based on an average trading volume of 115,325 shares, the days-to-cover ratio is currently 0.0 days.

Highland Funds I – Highland Opportunities and Income Fund Price Performance

HFRO stock traded down $0.04 during trading on Friday, hitting $7.39. 88,003 shares of the company’s stock were exchanged, compared to its average volume of 134,948. The business has a 50-day moving average price of $7.35 and a two-hundred day moving average price of $6.67. Highland Funds I – Highland Opportunities and Income Fund has a 52-week low of $5.47 and a 52-week high of $7.74.

Highland Funds I – Highland Opportunities and Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be issued a dividend of $0.0385 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a yield of 6.3%.

Highland Funds I – Highland Opportunities and Income Fund announced that its Board of Directors has authorized a stock repurchase program on Tuesday, June 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. IFP Advisors Inc purchased a new stake in Highland Funds I – Highland Opportunities and Income Fund in the fourth quarter valued at $31,000. Summit Securities Group LLC purchased a new position in shares of Highland Funds I – Highland Opportunities and Income Fund during the fourth quarter worth about $34,000. Fifth Third Bancorp acquired a new stake in shares of Highland Funds I – Highland Opportunities and Income Fund during the first quarter worth about $35,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Highland Funds I – Highland Opportunities and Income Fund during the second quarter worth about $49,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Highland Funds I – Highland Opportunities and Income Fund in the 3rd quarter valued at about $52,000.

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.