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

Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 5,694 shares, a decline of 50.4% from the April 30th total of 11,473 shares. Based on an average daily trading volume, of 129,898 shares, the short-interest ratio is currently 0.0 days.

Highland Funds I – Highland Opportunities and Income Fund Price Performance

Shares of NYSE HFRO traded down $0.15 during trading on Wednesday, hitting $6.58. The company had a trading volume of 107,830 shares, compared to its average volume of 126,053. Highland Funds I – Highland Opportunities and Income Fund has a 52 week low of $5.03 and a 52 week high of $6.83. The business’s 50-day moving average is $6.03 and its 200 day moving average is $6.10.

Highland Funds I – Highland Opportunities and Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of $0.0385 per share. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Tuesday, June 23rd.

Insider Activity

In other Highland Funds I – Highland Opportunities and Income Fund news, major shareholder Saba Capital Management, L.P. acquired 40,591 shares of Highland Funds I – Highland Opportunities and Income Fund stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $6.23 per share, for a total transaction of $252,881.93. Following the completion of the transaction, the insider owned 5,637,286 shares in the company, valued at approximately $35,120,291.78. This represents a 0.73% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased 157,323 shares of company stock worth $992,151 in the last three months.

Institutional Trading of Highland Funds I – Highland Opportunities and Income Fund

Large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc acquired a new stake in Highland Funds I – Highland Opportunities and Income Fund during the 4th quarter valued at $31,000. Summit Securities Group LLC acquired a new stake in Highland Funds I – Highland Opportunities and Income Fund during the 4th quarter valued at $34,000. Fifth Third Bancorp acquired a new stake in Highland Funds I – Highland Opportunities and Income Fund during the 1st quarter valued at $35,000. Advisory Services Network LLC acquired a new stake in Highland Funds I – Highland Opportunities and Income Fund during the 3rd quarter valued at $52,000. Finally, K2 Principal Fund L.P. acquired a new stake in Highland Funds I – Highland Opportunities and Income Fund during the 4th quarter valued at $60,000.

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.