Highland Funds I – Highland Income Fund [HFRO] Stock trading around $10.35 per share: What’s Next?

Highland Funds I – Highland Income Fund [NYSE: HFRO] loss -4.52% or -0.49 points to close at $10.35 with a heavy trading volume of 1366239 shares. The company report on June 15, 2021 that Highland Income Fund Announces Proposal to Convert Fund to Diversified Holding Company.

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Business Change Intended to Increase Shareholder Value, Provide Potential to Reduce Discount to NAVFund’s Board and Independent Trustees Unanimously Approve Proposal, Recommend Shareholders Vote “FOR” Business Change.

The Highland Income Fund (NYSE: HFRO) (“HFRO” or the “Fund”), a closed-end fund managed by Highland Capital Management Fund Advisors, L.P. (the “Adviser”), announced the filing of a preliminary proxy statement with the Securities and Exchange Commission (the “SEC”) for a special meeting of shareholders (“Special Meeting”) in connection with its proposal to convert the Fund from a registered investment company to a diversified holding company (the “Holding Company”).

The daily chart for HFRO points out that the company has recorded 0.78% gains over the past six months.

If we look at the average trading volume of 345.46K shares, HFRO reached to a volume of 1366239 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Highland Funds I – Highland Income Fund [HFRO]:

The Average True Range (ATR) for Highland Funds I – Highland Income Fund is set at 0.30

Trading performance analysis for HFRO stock

Highland Funds I – Highland Income Fund [HFRO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.74. With this latest performance, HFRO shares dropped by -9.84% in over the last four-week period, additionally plugging by 0.78% over the last 6 months – not to mention a rise of 25.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HFRO stock in for the last two-week period is set at 28.52, with the RSI for the last a single of trading hit 24.46, and the three-weeks RSI is set at 32.39 for Highland Funds I – Highland Income Fund [HFRO]. The present Moving Average for the last 50 days of trading for this stock 11.46, while it was recorded at 10.68 for the last single week of trading, and 10.09 for the last 200 days.

Highland Funds I – Highland Income Fund [HFRO]: A deeper dive into fundamental analysis

An analysis of insider ownership at Highland Funds I – Highland Income Fund [HFRO]

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50 institutional holders increased their position in Highland Funds I – Highland Income Fund [NYSE:HFRO] by around 3,152,821 shares. Additionally, 47 investors decreased positions by around 3,059,082 shares, while 15 investors held positions by with 19,995,834 shares. The mentioned changes placed institutional holdings at 26,207,737 shares, according to the latest SEC report filing. HFRO stock had 13 new institutional investments in for a total of 1,625,166 shares, while 17 institutional investors sold positions of 1,065,020 shares during the same period.

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