Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO – Get Free Report) announced a monthly dividend on Wednesday, July 1st. Shareholders of record on Friday, July 24th will be given a dividend of 0.0385 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Friday, July 24th.
Highland Funds I – Highland Opportunities and Income Fund Price Performance
HFRO stock opened at $7.31 on Thursday. The firm has a 50-day moving average price of $6.61 and a 200-day moving average price of $6.25. Highland Funds I – Highland Opportunities and Income Fund has a 12 month low of $5.03 and a 12 month high of $7.50.
Highland Funds I – Highland Opportunities and Income Fund declared that its Board of Directors has initiated a stock buyback program on Tuesday, June 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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.
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