Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) Short Interest Down 67.7% in August

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

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

Several hedge funds and other institutional investors have recently made changes to their positions in HFRO. Saba Capital Management L.P. lifted its stake 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 purchasing an additional 473,221 shares during the last quarter. Altium Capital Management LLC boosted its position in Highland Funds I – Highland Opportunities and Income Fund by 93.7% in the first quarter. Altium Capital Management LLC now owns 277,068 shares of the company’s stock valued at $1,582,000 after buying an additional 134,009 shares in the last quarter. Closed End Fund Advisors Inc. bought a new stake in shares of Highland Funds I – Highland Opportunities and Income Fund during the fourth quarter worth $1,406,000. NewEdge Advisors LLC grew its stake in shares of Highland Funds I – Highland Opportunities and Income Fund by 4.1% during the second quarter. NewEdge Advisors LLC now owns 173,066 shares of the company’s stock worth $1,234,000 after buying an additional 6,748 shares during the last quarter. Finally, Concorde Asset Management LLC increased 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.

Highland Funds I – Highland Opportunities and Income Fund Price Performance

Shares of HFRO stock traded down $0.12 on Monday, hitting $7.26. 55,784 shares of the company’s stock were exchanged, compared to its average volume of 134,496. Highland Funds I – Highland Opportunities and Income Fund has a 12 month low of $5.47 and a 12 month high of $7.74. The company has a 50 day moving average of $7.35 and a 200 day moving average of $6.67.

Highland Funds I – Highland Opportunities and Income Fund declared that its board has approved a share repurchase program on Tuesday, June 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Highland Funds I – Highland Opportunities and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be issued a $0.0385 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%.

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.