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 significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 45,149 shares, an increase of 158.5% from the June 15th total of 17,468 shares. Based on an average daily volume of 213,546 shares, the days-to-cover ratio is presently 0.2 days.

Highland Funds I – Highland Opportunities and Income Fund Price Performance

NYSE HFRO opened at $7.66 on Tuesday. The business has a 50 day simple moving average of $6.83 and a 200 day simple moving average of $6.33. Highland Funds I – Highland Opportunities and Income Fund has a 52-week low of $5.03 and a 52-week high of $7.69.

Highland Funds I – Highland Opportunities and Income Fund announced 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 buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Highland Funds I – Highland Opportunities and Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be given a dividend of $0.0385 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a c) annualized dividend and a dividend yield of 6.0%.

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. 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, for a total transaction of $850,292.32. Following the acquisition, the insider directly owned 5,976,204 shares of the company’s stock, valued at approximately $41,116,283.52. This trade represents a 2.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 417,994 shares of company stock worth $2,760,184 over the last quarter.

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

Several institutional investors have recently added to or reduced their stakes in HFRO. Post Resch Tallon Group Inc. acquired a new position in Highland Funds I – Highland Opportunities and Income Fund in the 2nd quarter worth $75,000. NewEdge Advisors LLC boosted its position in shares of Highland Funds I – Highland Opportunities and Income Fund by 27.3% during the first quarter. NewEdge Advisors LLC now owns 166,318 shares of the company’s stock worth $950,000 after buying an additional 35,692 shares during the period. Concorde Asset Management LLC grew its holdings in shares of Highland Funds I – Highland Opportunities and Income Fund by 19.2% during the first quarter. Concorde Asset Management LLC now owns 166,190 shares of the company’s stock worth $949,000 after buying an additional 26,730 shares in the last quarter. Saba Capital Management L.P. raised its position in Highland Funds I – Highland Opportunities and Income Fund by 10.1% in the 1st quarter. Saba Capital Management L.P. now owns 5,147,237 shares of the company’s stock valued at $29,391,000 after buying an additional 473,221 shares during the last quarter. Finally, Aristides Capital LLC lifted its stake in Highland Funds I – Highland Opportunities and Income Fund by 3.4% in the 1st quarter. Aristides Capital LLC now owns 138,096 shares of the company’s stock valued at $789,000 after acquiring an additional 4,600 shares in the last quarter.

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.