What Drove This Closed-End Fund ETF's Performance In June?

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.

ETF Trends • Jul 6, 2026

Highland Opportunities and Income Fund Announces the Regular Monthly Distribution

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.

PRNewsWire • Jul 1, 2026

Buying Real Estate At Half Price

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.

Seeking Alpha • Jun 20, 2026

HFRO: Assessing The New $100 Million Share Buyback Program

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.

Seeking Alpha • Jun 14, 2026

Highland Opportunities and Income Fund Announces Investor Update Call

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.

PRNewsWire • Jun 11, 2026

Highland Opportunities and Income Fund (HFRO) Announces New $100 Million Share Repurchase Program

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.

PRNewsWire • Jun 9, 2026

HFRO: The Series B Preferred Shares Look Attractive

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.

Seeking Alpha • Apr 28, 2026

HFRO: One Of The Best Investment-Grade Preferreds

Highland Income Fund's preferreds offer an 8.35% yield at a 36% discount to par, underpinned by investment-grade ratings and real asset exposure. HFRO's 71.8% allocation to commercial real estate, low 27.81% regulatory leverage, and broad asset diversification enhance preferred safety despite some illiquid holdings. Preferreds trade at 64 cents on the dollar, providing a 405 basis points spread over the 10-year Treasury, with potential for discount narrowing as risk appetite returns.

Seeking Alpha • Feb 5, 2026

HFRO: Resilient Real Estate Fund But Struggling In High Interest Rate Environment

Highland Opportunities and Income Fund remains a hold, trading at a steep 47% discount to NAV amid persistent real estate sector headwinds.

Seeking Alpha • Jan 26, 2026

HFRO: An 8% Dividend Yield From The Preferreds Of This Investment-Grade CEF

Highland Opportunities and Income Fund is trading at a 43.5% discount to its $11.38 NAV per share as of the end of its second quarter. The CEF's preferreds pay out a current yield of 8% and are trading for 67 cents on the dollar. Pending Fed rate cuts should aggregate at 50 basis points to end 2025, with a possible move of the U.S. 10-year Treasury yield lower if inflation prints are within consensus.

Seeking Alpha • Sep 29, 2025