Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) Short Interest Up 158.5% in June

Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 45,149 shares, a growth of 158.5% from the June 15th total of 17,468 shares. Based on an average trading volume of 213,546 shares, the days-to-cover ratio is currently 0.2 days.

Highland Funds I – Highland Opportunities and Income Fund Trading Up 0.2%

Shares of NYSE HFRO opened at $7.64 on Thursday. The business’s 50 day moving average price is $6.89 and its 200-day moving average price is $6.35. Highland Funds I – Highland Opportunities and Income Fund has a fifty-two week low of $5.03 and a fifty-two week high of $7.69.

Highland Funds I – Highland Opportunities and Income Fund announced that its board has authorized a share repurchase 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 typically an indication that the company’s leadership believes its stock is undervalued.

Highland Funds I – Highland Opportunities and Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be given a $0.0385 dividend. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, July 24th.

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

In related news, major shareholder Saba Capital Management, L.P. acquired 123,589 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were acquired at an average cost of $6.88 per share, for a total transaction of $850,292.32. Following the completion of the transaction, the insider directly owned 5,976,204 shares in the company, valued at approximately $41,116,283.52. This trade represents a 2.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 417,994 shares of company stock worth $2,760,184 in the last quarter.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Arlington Capital Management Inc. raised its stake in shares of Highland Funds I – Highland Opportunities and Income Fund by 2.1% during the first 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 in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Highland Funds I – Highland Opportunities and Income Fund by 3.5% in the second quarter. NewEdge Advisors LLC now owns 121,872 shares of the company’s stock valued at $634,000 after purchasing an additional 4,139 shares during the period. Aristides Capital LLC grew its stake in Highland Funds I – Highland Opportunities and Income Fund by 3.4% in the first quarter. Aristides Capital LLC now owns 138,096 shares of the company’s stock worth $789,000 after purchasing an additional 4,600 shares in the last quarter. IFP Advisors Inc purchased a new position in Highland Funds I – Highland Opportunities and Income Fund during the 4th quarter worth $31,000. Finally, Cetera Investment Advisers increased its holdings in 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 during the period.

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.