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 decrease in short interest in July. As of July 31st, there was short interest totaling 25,673 shares, a decrease of 60.8% from the July 15th total of 65,441 shares. Based on an average daily volume of 139,015 shares, the short-interest ratio is currently 0.2 days.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. bought 123,589 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average price of $6.88 per share, with a total value of $850,292.32. Following the transaction, the insider owned 5,976,204 shares in the company, valued at $41,116,283.52. This represents a 2.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 417,994 shares of company stock valued at $2,760,184.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HFRO. IFP Advisors Inc acquired a new position in shares of Highland Funds I – Highland Opportunities and Income Fund during the 4th quarter worth about $31,000. Summit Securities Group LLC acquired a new stake in Highland Funds I – Highland Opportunities and Income Fund in the 4th quarter valued at about $34,000. Fifth Third Bancorp bought a new position in Highland Funds I – Highland Opportunities and Income Fund during the first quarter worth about $35,000. Advisory Services Network LLC bought a new position in Highland Funds I – Highland Opportunities and Income Fund during the third quarter worth about $52,000. Finally, K2 Principal Fund L.P. acquired a new position in Highland Funds I – Highland Opportunities and Income Fund during the fourth quarter worth approximately $60,000.

Highland Funds I – Highland Opportunities and Income Fund Trading Up 0.8%

Shares of Highland Funds I – Highland Opportunities and Income Fund stock traded up $0.06 on Friday, reaching $7.24. 91,397 shares of the company were exchanged, compared to its average volume of 138,677. Highland Funds I – Highland Opportunities and Income Fund has a one year low of $5.47 and a one year high of $7.69. The company has a 50-day moving average of $7.33 and a 200 day moving average of $6.54.

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

Highland Funds I – Highland Opportunities and Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a dividend of $0.0385 per share. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Monday, August 24th.

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.