Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) Short Interest Up 92.0% in May

Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) saw 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 trading volume of 162,719 shares, the short-interest ratio is presently 0.1 days.

Highland Funds I – Highland Opportunities and Income Fund Trading Up 0.5%

Shares of HFRO traded up $0.03 on Monday, reaching $7.13. The company’s stock had a trading volume of 146,416 shares, compared to its average volume of 129,513. Highland Funds I – Highland Opportunities and Income Fund has a twelve month low of $5.03 and a twelve month high of $7.27. The firm has a fifty day moving average of $6.27 and a 200-day moving average of $6.15.

Highland Funds I – Highland Opportunities and Income Fund announced that its board has authorized a share buyback program on Tuesday, June 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy 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 firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be issued a $0.0385 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Tuesday, June 23rd.

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

In other Highland Funds I – Highland Opportunities and Income Fund news, major shareholder Saba Capital Management, L.P. bought 123,589 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average price of $6.88 per share, for a total transaction of $850,292.32. Following the acquisition, the insider directly owned 5,976,204 shares of the company’s stock, valued at approximately $41,116,283.52. The trade was a 2.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have bought 417,994 shares of company stock valued at $2,760,184.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abel Hall LLC increased its stake in Highland Funds I – Highland Opportunities and Income Fund by 50.0% in the 1st quarter. Abel Hall LLC now owns 30,000 shares of the company’s stock valued at $171,000 after buying an additional 10,000 shares during the last quarter. K2 Principal Fund L.P. purchased a new stake in Highland Funds I – Highland Opportunities and Income Fund in the 4th quarter valued at about $60,000. Concorde Asset Management LLC increased its stake in Highland Funds I – Highland Opportunities and Income Fund by 112.3% in the 4th quarter. Concorde Asset Management LLC now owns 139,460 shares of the company’s stock valued at $834,000 after buying an additional 73,760 shares during the last quarter. Gilpin Wealth Management LLC purchased a new stake in Highland Funds I – Highland Opportunities and Income Fund in the 4th quarter valued at about $544,000. Finally, Closed End Fund Advisors Inc. purchased a new stake in Highland Funds I – Highland Opportunities and Income Fund in the 4th quarter valued at about $1,406,000.

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.