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Research & education only — not financial advice. EDGAR is not a registered investment adviser; calls are impersonal, generated from SEC filings and a delayed/third-party price feed, and may be wrong or out of date. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates — see Disclosures. Do your own research.

EDGAR® is a registered trademark of the U.S. Securities and Exchange Commission. EDGAR/calls is not affiliated with, endorsed by, or approved by the U.S. Securities and Exchange Commission.

EEDGAR/calls
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Pulling SEC filings + quote and writing the call…

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Home›Stocks›HFRO

HFRO

HIGHLAND OPPORTUNITIES & INCOME FUND

Sell
$7.24
▲ +1.83%
$7.24▲ +48.84%
over 1Y
L $4.69EODHDH $7.38
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+1.8%
1W-1.9%
1M+9.0%
3M+32.8%
YTD+24.4%
1Y+48.8%
OverviewValuationQualityTimelineFilings
Rating
Sell
Quality
A
Valuation
Fair value
Filings
Watch
Sell
Conviction
Horizon
Medium (3–12mo)

Mixed signals in the latest filings.

HIGHLAND OPPORTUNITIES & INCOME FUND shows limited reported revenue.

On these fundamentals, HFRO screens as SELL on the SEC figures.

Key statistics

Valuation

Enterprise value$579M
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield—
FCF yield—

Quality & risk

ROIC (est.)—
Free cash flow—
Total debt—
Net cash—

Capital returns

Buyback yield—
Dividend yield (est.)—
Shareholder yield—

Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.

Disclosure timeline

SEC · 8-Ks + reports
Some governance/structural items recently, but no outright red flags.
  1. DEF 14A Proxy statement2026-05-07
  2. 8-K Officer / director change2026-01-28
  3. DEF 14A Proxy statement2025-05-07
  4. DEF 14A Proxy statement2024-05-17
  5. DEF 14A Proxy statement2023-05-02
  6. DEF 14A Proxy statement2022-03-28
  7. 8-K Reg FD disclosure2021-12-30
  8. SC 13D/A Activist / 5%+ stake change2021-09-28
  9. SC 13D/A Activist / 5%+ stake change2021-08-11

Recent filings

all on EDGAR ↗
4Period ending 2026-06-092026-06-11open ↗4Period ending 2026-06-042026-06-08open ↗4Period ending 2026-06-032026-06-04open ↗SCHEDULE 13D/AFiling2026-06-04open ↗4Period ending 2026-06-012026-06-03open ↗NPORT-PPeriod ending 2026-03-312026-06-01open ↗4Period ending 2026-05-282026-06-01open ↗4Period ending 2026-05-262026-05-28open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-192026-05-21open ↗4Period ending 2026-05-182026-05-19open ↗3Period ending 2026-05-152026-05-19open ↗

Quality score

A
ValueGrowthProfitHealthMom.
Value—
Growth—
Profitability—
Financial health—
MomentumA
4.6652-week7.36
Revenue
—
Net margin
—
ROE
—
P/E
—

SEC fundamentals

Frequently asked

Is HIGHLAND OPPORTUNITIES & INCOME FUND (HFRO) a buy?
HFRO currently carries a Sell rating with 2/5 conviction, derived from its latest SEC filings. Mixed signals in the latest filings.
What is HIGHLAND OPPORTUNITIES & INCOME FUND's quality score?
HFRO scores 88.71499334298782/100 (grade A) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.

Sources: SEC EDGAR (CIK 0001710680, latest 4 filed 2026-06-11) · EODHD · as of 7/1/2026, 3:30:59 AM.

Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.

Insider activity

Form 4 · SEC

Last 90 days: 12 open-market buys · 0 sales

2026-06-09
Saba Capital Management, L.P.
10% owner
Buy124K @ $6.88$850K
2026-06-05
Saba Capital Management, L.P.
10% owner
Buy6.76K @ $6.69$45.2K
2026-06-04
Saba Capital Management, L.P.
10% owner
Buy18.0K @ $6.73$121K
2026-06-03
Saba Capital Management, L.P.
10% owner
Buy28.4K @ $6.66$189K
2026-06-02
Saba Capital Management, L.P.
10% owner
Buy78.3K @ $6.71$526K
2026-06-01
Saba Capital Management, L.P.
10% owner
Buy5.52K @ $6.55$36.2K
2026-05-29
Saba Capital Management, L.P.
10% owner
Buy31.9K @ $6.55$209K
2026-05-28
Saba Capital Management, L.P.
10% owner
Buy9.97K @ $6.50$64.8K
2026-05-26
Saba Capital Management, L.P.
10% owner
Buy15.9K @ $6.27$99.4K
2026-05-21
Saba Capital Management, L.P.
10% owner
Buy20.5K @ $6.25$128K
2026-05-20
Saba Capital Management, L.P.
10% owner
Buy40.6K @ $6.23$253K
2026-05-19
Saba Capital Management, L.P.
10% owner
Buy22.4K @ $6.18$138K

Dividends

Monthly
Yield (TTM)
6.5%
Annual / share
$0.47
Last ex-date
2026-06-23
Last amount
$0.04
ex 2026-06-23paid 2026-06-30$0.04
ex 2026-05-22paid 2026-05-29$0.04
ex 2026-04-23paid 2026-04-30$0.04
ex 2026-03-24paid 2026-03-31$0.04
ex 2026-02-20paid 2026-02-27$0.04
ex 2026-01-23paid 2026-01-30$0.04

Source: EODHD. Yield = trailing-12-month dividends ÷ price.

Recent news

market news →
What to Know About This Fund’s $6 Million Exit From a Next-Generation Connectivity FundBearish
finance.yahoo.com· 2026-05-12
Why This Fund Sold $8 Million of a Real Estate Fund Yielding Nearly 9%Bullish
finance.yahoo.com· 2026-05-12
Highland Income Fund declares $0.0385 dividendBullish
seekingalpha.com· 2026-01-02
Highland Income Fund declares $0.0385 dividendBullish
seekingalpha.com· 2025-09-03
Highland Income Fund declares $0.0385 dividendBullish
seekingalpha.com· 2025-07-02
Highland Income Fund declares $0.0385 dividendBullish
seekingalpha.com· 2025-06-03

Vs tracked universe

compare →

1192 tracked peers · median

EDGAR Score89 vs 67
Revenue growth— vs 7.5%
Net margin— vs 10.0%
Return on equity— vs 12.0%
P/E— vs 25.7