Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) Declares $0.04 Monthly Dividend

Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) declared a monthly dividend on Tuesday, September 1st. Stockholders of record on Wednesday, September 23rd will be paid a dividend of 0.0385 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Wednesday, September 23rd.

Highland Funds I – Highland Opportunities and Income Fund Stock Down 0.4%

Shares of NYSE HFRO traded down $0.03 during midday trading on Wednesday, reaching $7.37. The company’s stock had a trading volume of 10,742 shares, compared to its average volume of 136,033. The company has a 50 day moving average price of $7.34 and a 200 day moving average price of $6.62. Highland Funds I – Highland Opportunities and Income Fund has a one year low of $5.47 and a one year high of $7.69.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. purchased 123,589 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $6.88 per share, with a total value of $850,292.32. Following the completion of the acquisition, the insider owned 5,976,204 shares of the company’s stock, valued at approximately $41,116,283.52. This represents a 2.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders acquired a total of 148,365 shares of company stock valued at $1,016,764 over the last quarter.

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

A number of institutional investors and hedge funds have recently modified their holdings of HFRO. Bank of America Corp DE purchased a new stake in shares of Highland Funds I – Highland Opportunities and Income Fund during the fourth quarter valued at $100,000. Cetera Investment Advisers increased its stake in Highland Funds I – Highland Opportunities and Income Fund by 8.3% in the 2nd quarter. Cetera Investment Advisers now owns 70,716 shares of the company’s stock worth $368,000 after purchasing an additional 5,424 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Highland Funds I – Highland Opportunities and Income Fund by 3.5% during the 2nd quarter. NewEdge Advisors LLC now owns 121,872 shares of the company’s stock worth $634,000 after buying an additional 4,139 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in Highland Funds I – Highland Opportunities and Income Fund during the 2nd quarter worth about $127,000. Finally, Millennium Management LLC purchased a new stake in Highland Funds I – Highland Opportunities and Income Fund during the third quarter valued at about $227,000.

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.