Short Interest in Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) Declines By 60.8%

Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 25,673 shares, a drop of 60.8% from the July 15th total of 65,441 shares. Based on an average daily trading volume, of 139,015 shares, the short-interest ratio is presently 0.2 days.

Highland Funds I – Highland Opportunities and Income Fund Stock Performance

Shares of Highland Funds I – Highland Opportunities and Income Fund stock opened at $7.18 on Friday. The business has a fifty day simple moving average of $7.32 and a 200-day simple moving average of $6.53. Highland Funds I – Highland Opportunities and Income Fund has a fifty-two week low of $5.47 and a fifty-two week high of $7.69.

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

Highland Funds I – Highland Opportunities and Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a $0.0385 dividend. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 6.4%.

Insider Buying and Selling at Highland Funds I – Highland Opportunities and Income Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 123,589 shares of Highland Funds I – Highland Opportunities and Income Fund stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost of $6.88 per share, for a total transaction of $850,292.32. Following the completion of the purchase, the insider directly owned 5,976,204 shares of the company’s stock, valued at $41,116,283.52. This trade represents a 2.11% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders purchased 417,994 shares of company stock valued at $2,760,184.

Hedge Funds Weigh In On Highland Funds I – Highland Opportunities and Income Fund

Several large investors have recently made changes to their positions in the business. Calamos Advisors LLC grew its position in Highland Funds I – Highland Opportunities and Income Fund by 75.0% in the first quarter. Calamos Advisors LLC now owns 74,855 shares of the company’s stock worth $427,000 after buying an additional 32,079 shares during the last quarter. Arlington Capital Management Inc. lifted its position in shares of Highland Funds I – Highland Opportunities and Income Fund by 2.1% during the 1st quarter. Arlington Capital Management Inc. now owns 154,306 shares of the company’s stock valued at $881,000 after acquiring an additional 3,101 shares during the last quarter. Altium Capital Management LLC lifted its position in shares of Highland Funds I – Highland Opportunities and Income Fund by 93.7% during the 1st quarter. Altium Capital Management LLC now owns 277,068 shares of the company’s stock valued at $1,582,000 after acquiring an additional 134,009 shares during the last quarter. Abel Hall LLC boosted its stake in shares of Highland Funds I – Highland Opportunities and Income Fund by 50.0% during the 1st quarter. Abel Hall LLC now owns 30,000 shares of the company’s stock worth $171,000 after acquiring an additional 10,000 shares in the last quarter. Finally, K2 Principal Fund L.P. bought a new stake in shares of Highland Funds I – Highland Opportunities and Income Fund during the 4th quarter worth $60,000.

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.