DALLAS, June 3, 2024
/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 28,
2024, to shareholders of record at the close of business
June 21, 2024.
The Fund is a closed-end fund that seeks to provide growth of
capital along with income in a registered fund format. The Fund
pursues its investment objective by investing directly and
indirectly (e.g., through derivatives that are the economic
equivalent of direct investments) in the following categories of
securities and instruments: (i) investments in securities or other
instruments directly or indirectly secured by real estate,
including real estate investment trusts ("REITs"), preferred
equity, securities convertible into equity securities and mezzanine
debt; (ii) other instruments, including, but not limited to,
secured and unsecured fixed-rate loans and corporate bonds,
distressed securities, mezzanine securities, structured products
(including but not limited to mortgage-backed securities,
collateralized loan obligations and asset-backed securities),
convertible and preferred securities, equities (public and
private), and futures and options; and (iii) floating rate loans
and other securities deemed to be floating rate investments.
The Fund declares and pays distributions monthly.
On January 4, 2024, the Fund
adjusted the monthly distribution rate to align the distribution
with the Fund's current portfolio and investment objective.
Additional information on the distribution can be found on the
Fund's website at
http://www.nexpointassetmgmt.com/opportunities-income-fund.
About the Highland Opportunities and Income Fund
The Highland Opportunities and Income Fund (NYSE: HFRO) is a
closed-end fund managed by NexPoint Asset Management, L.P. For more
information visit
nexpointassetmgmt.com/opportunities-income-fund.
Effective June 15, 2023, the
Fund changed its name to the Highland Opportunities and Income Fund
to reflect a new investment objective. Under the modified
investment objective, the Fund will pursue growth of capital along
with income. More information can be found in the press
release announcing the changes, issued on May 16, 2023.
About NexPoint Asset Management, L.P.
NexPoint Asset Management, L.P. is an SEC-registered investment
adviser. It is the adviser to a suite of registered funds,
including open-end mutual funds, closed-end funds, and an
exchange-traded fund. For more information visit
nexpointassetmgmt.com.
Investors should consider the investment objectives,
risks, charges, and expenses of the Highland Opportunities and
Income Fund carefully before investing. This and other information
can be found in the Fund's prospectus, which may be obtained by
calling 1-800-357-9167 or
visiting nexpointassetmgmt.com. Please
read the prospectus carefully before you invest.
The distribution may include a return of capital. Please
refer to the 19(a)-1 Source of Distribution Notice on the
NexPoint Asset Management website for Section 19
notices that provide estimated amounts and sources of the Fund's
distributions, which should not be relied upon for tax reporting
purposes.
No assurance can be given that the Fund will achieve its
investment objectives.
Shares of closed-end investment companies frequently trade at
a discount to net asset value. The price of the Fund's shares is
determined by a number of factors, several of which are beyond the
control of the Fund. Therefore, the Fund cannot predict whether its
shares will trade at, below or above net asset value. Past
performance does not guarantee future results.
Closed-End Fund Risk. The Fund is a
closed-end investment company designed primarily for long-term
investors and not as a trading vehicle. No assurance can be given
that a shareholder will be able to sell his or her shares on the
NYSE when he or she chooses to do so, and no assurance can be given
as to the price at which any such sale may be affected.
Credit Risk. The Fund may invest all or
substantially all of its assets in Senior Loans or other securities
that are rated below investment grade and unrated Senior Loans
deemed by NexPoint to be of comparable quality. Securities rated
below investment grade are commonly referred to as "high yield
securities" or "junk securities." They are regarded as
predominantly speculative with respect to the issuing company's
continuing ability to meet principal and interest payments.
Non-payment of scheduled interest and/or principal would result in
a reduction of income to the Fund, a reduction in the value of the
Senior Loan experiencing non-payment and a potential decrease in
the NAV of the Fund. Investments in high yield Senior Loans and
other securities may result in greater NAV fluctuation than if the
Fund did not make such investments.
Real Estate Industry Risk: Issuers principally
engaged in real estate industry, including real estate investment
trusts, may be subject to risks similar to the risks associated
with the direct ownership of real estate, including:
(i) changes in general economic and market conditions;
(ii) changes in the value of real estate properties;
(iii) risks related to local economic conditions, overbuilding
and increased competition; (iv) increases in property taxes
and operating expenses; (v) changes in zoning laws;
(vi) casualty and condemnation losses; (vii) variations
in rental income, neighborhood values or the appeal of property to
tenants; (viii) the availability of financing and
(ix) changes in interest rates and leverage.
Illiquidity of Investments Risk. The
investments made by the Fund may be illiquid, and consequently the
Fund may not be able to sell such investments at prices that
reflect the Investment Adviser's assessment of their value or the
amount originally paid for such investments by the Fund.
Ongoing Monitoring Risk. On behalf of the
several Lenders, the Agent generally will be required to administer
and manage the Senior Loans and, with respect to collateralized
Senior Loans, to service or monitor the
collateral. Financial difficulties of Agents can pose a
risk to the Fund.
CONTACTS
Investor Relations
Kristen
Thomas
IR@nexpoint.com
Media Relations
Prosek Partners for NexPoint
Pro-nexpoint@prosek.com
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SOURCE Highland Opportunities and Income Fund