Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) Sees Large Decline in Short Interest

Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) was the recipient of a large decline in short interest during the month of 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 volume of 115,325 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HFRO. Bank of America Corp DE bought a new position in Highland Funds I – Highland Opportunities and Income Fund during the fourth quarter valued at about $100,000. Cetera Investment Advisers grew its holdings in shares of Highland Funds I – Highland Opportunities and Income Fund by 8.3% during 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 grew its holdings in shares of 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 purchasing an additional 4,139 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Highland Funds I – Highland Opportunities and Income Fund during the second quarter valued at approximately $127,000. Finally, Millennium Management LLC acquired a new position in shares of Highland Funds I – Highland Opportunities and Income Fund in the third quarter valued at $227,000.

Highland Funds I – Highland Opportunities and Income Fund Stock Performance

HFRO traded down $0.04 during midday trading on Friday, reaching $7.39. The company’s stock had a trading volume of 88,003 shares, compared to its average volume of 134,948. Highland Funds I – Highland Opportunities and Income Fund has a twelve month low of $5.47 and a twelve month high of $7.74. The company has a fifty day simple moving average of $7.35 and a 200 day simple moving average of $6.67.

Highland Funds I – Highland Opportunities and Income Fund announced that its board has initiated a stock repurchase program on Tuesday, June 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Highland Funds I – Highland Opportunities and Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 yield of 6.3%.

Highland Funds I – Highland Opportunities and Income Fund Company Profile

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.