Highland Opportunities and Income Fund Launches $100 Million Two-Year Buyback Program
Highland Opportunities and Income Fund authorized a $100 million, two-year share repurchase program with $20 million to be deployed immediately. Combined with activist accumulation by Saba Capital, the buyback aims to narrow the fund's discount to net asset value, though execution risks exist given the fund's illiquid real estate holdings.
Highland Opportunities and Income Fund launched a new $100 million, two-year share repurchase program, with $20 million to be deployed immediately. The authorization follows activist accumulation by Saba Capital, which has been building a position in the closed-end fund.
The repurchase program involves HFRO, ticker HFRO, and activist investor Saba Capital. The $100 million authorization represents a material commitment relative to the fund's market capitalization, with $20 million earmarked for immediate deployment under the two-year authorization.
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