Highland Funds I – Highland Opportunities and Income Fund (NYSE:HFRO) Short Interest Down 50.4% in May

by · The Cerbat Gem

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

Highland Funds I – Highland Opportunities and Income Fund Price Performance

Shares of HFRO traded up $0.17 during mid-day trading on Monday, hitting $6.65. 175,258 shares of the company’s stock were exchanged, compared to its average volume of 124,915. 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 company has a 50-day simple moving average of $6.03 and a 200 day simple moving average of $6.10.

Highland Funds I – Highland Opportunities and Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.0385 per share. This represents a c) annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, May 22nd.

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. purchased 40,591 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $6.23 per share, with a total value of $252,881.93. Following the purchase, the insider directly owned 5,637,286 shares of the company’s stock, valued at $35,120,291.78. The trade was a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have purchased 157,323 shares of company stock worth $992,151.

Hedge Funds Weigh In On Highland Funds I – Highland Opportunities and Income Fund

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc bought a new position in shares of Highland Funds I – Highland Opportunities and Income Fund during the 4th quarter worth approximately $31,000. Summit Securities Group LLC bought a new position in shares of Highland Funds I – Highland Opportunities and Income Fund in the fourth quarter valued at $34,000. Fifth Third Bancorp bought a new position in shares of Highland Funds I – Highland Opportunities and Income Fund in the first quarter valued at $35,000. Advisory Services Network LLC bought a new position in shares of Highland Funds I – Highland Opportunities and Income Fund in the third quarter valued at $52,000. Finally, K2 Principal Fund L.P. bought a new position in shares of Highland Funds I – Highland Opportunities and Income Fund in the fourth quarter valued at $60,000.

About Highland Funds I – Highland Opportunities and Income Fund

(Get Free Report)

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.

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