Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) Short Interest Update

Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) was the recipient of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 10,932 shares, a growth of 92.0% from the May 14th total of 5,694 shares. Based on an average daily trading volume, of 162,719 shares, the days-to-cover ratio is presently 0.1 days.

Highland Funds I – Highland Opportunities and Income Fund Trading Up 0.9%

NYSE:HFRO traded up $0.06 during mid-day trading on Friday, reaching $7.09. 96,554 shares of the stock were exchanged, compared to its average volume of 129,362. The company has a 50 day simple moving average of $6.24 and a 200-day simple moving average of $6.14. Highland Funds I – Highland Opportunities and Income Fund has a 1 year low of $5.03 and a 1 year high of $7.27.

Highland Funds I – Highland Opportunities and Income Fund announced that its board has authorized a share repurchase program on Tuesday, June 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally 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 disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.0385 per share. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Tuesday, June 23rd.

Insider Transactions at Highland Funds I – Highland Opportunities and Income Fund

In other news, major shareholder Saba Capital Management, L.P. purchased 123,589 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $6.88 per share, for a total transaction of $850,292.32. Following the purchase, the insider directly owned 5,976,204 shares of the company’s stock, valued at $41,116,283.52. This represents a 2.11% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders purchased 417,994 shares of company stock worth $2,760,184.

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

A number of hedge funds have recently added to or reduced their stakes in HFRO. IFP Advisors Inc acquired a new stake in Highland Funds I – Highland Opportunities and Income Fund during the 4th quarter worth approximately $31,000. Summit Securities Group LLC acquired a new stake in Highland Funds I – Highland Opportunities and Income Fund during the 4th quarter worth approximately $34,000. Fifth Third Bancorp acquired a new stake in Highland Funds I – Highland Opportunities and Income Fund during the 1st quarter worth approximately $35,000. Advisory Services Network LLC acquired a new stake in Highland Funds I – Highland Opportunities and Income Fund during the 3rd quarter worth approximately $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 worth approximately $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.