Highland Opportunities and Income Fund

HFRO

Market cap $423M

Highland Income Fund faces activist pressure from Saba Capital, which has surpassed a 10% ownership stake. Saba Capital is pushing for larger buybacks to address HFRO's persistent discount to NAV. Recent developments include HFRO's first major monetization event, and the NAV discount has improved.

The exchange-traded fund (ETF) vehicle continues to offer an array of options to provide access points into niche corners of the capital markets. One such area is the closed-end fund (CEF) universe.

DALLAS, July 1, 2026 /PRNewswire/ -- The Highland Opportunities and Income Fund (NYSE: HFRO) ("HFRO" or the "Fund") today announced its regular monthly distribution on its common stock of $0.0385 per share. The distribution will be payable on July 31, 2026, to shareholders of record at the close of business July 24, 2026.

Sky-high borrowing costs slow down real estate profits. This won't last forever; we should buy while prices are low. We look at two investment opportunities trading at steep discounts to NAV.

Highland Opportunities and Income Fund launches a new $100 million, two-year share repurchase program, with $20 million to be deployed immediately. Saba Capital's activist accumulation and the buyback program create a tactical floor for HFRO's share price, narrowing the discount to NAV. HFRO's real estate-heavy, illiquid asset base poses execution and liquidity risks as buybacks shrink the portfolio and concentrate holdings.

DALLAS, June 11, 2026 /PRNewswire/ -- The Highland Opportunities and Income Fund (NYSE: HFRO) ("HFRO" or the "Fund") announced today that the Fund is scheduled to host a conference call on Thursday, June 25, 2026, at 10:00 a.m. CT, to discuss portfolio updates and recent performance.

Board Authorizes Two-Year Open-Market Program; Fund Intends to Deploy $20 Million as Soon as Practicable DALLAS, June 9, 2026 /PRNewswire/ -- The Highland Opportunities and Income Fund (NYSE: HFRO) ("HFRO" or the "Fund") today announced that its Board of Trustees (the "Board") has authorized a new share repurchase program (the "Program") pursuant to which the Fund may repurchase up to $100 million of its outstanding common shares in open-market transactions over a two-year period commencing today, June 9, 2026.   The Program succeeds the Fund's prior $100 million repurchase program, which expired in 2025.

DALLAS, June 1, 2026 /PRNewswire/ -- The Highland Opportunities and Income Fund (NYSE: HFRO) ("HFRO" or the "Fund") today announced its regular monthly distribution on its common stock of $0.0385 per share. The distribution will be payable on June 30, 2026, to shareholders of record at the close of business June 23, 2026.

DALLAS, May 1, 2026 /PRNewswire/ -- The Highland Opportunities and Income Fund (NYSE: HFRO) ("HFRO" or the "Fund") today announced its regular monthly distribution on its common stock of $0.0385 per share. The distribution will be payable on May 29, 2026, to shareholders of record at the close of business May 22, 2026.

Highland Opportunities and Income Fund (HFRO) offers Series B Preferred Shares (HFRO.PR.B) with an 8.25% yield and stabilized NAV amid a -46% discount. Saba Capital's 9.4% stake in HFRO common shares signals activist scrutiny and potential for NAV discount normalization, benefiting preferred holders. HFRO.PR.B demonstrates exceptional price stability, outperforming CRE REIT preferreds during recent market volatility, aided by 1940 Act asset coverage protections.