Highland Opportunities and Income Fund Announces the Regular Monthly Distribution

Rhea-AI Summary

Highland Opportunities and Income Fund (NYSE: HFRO) declared a regular monthly distribution of $0.0385 per share. The distribution is payable on March 31, 2026 to shareholders of record at the close of business on March 24, 2026.

The Fund is a closed-end fund that invests across real estate-backed securities, fixed-income instruments, structured products, equities and floating rate loans and declares distributions monthly.

Positive

• Monthly distribution declared: $0.0385 per share
• Clear payment timeline: payable March 31, 2026; record date March 24, 2026

Negative

• None.

Key Figures

Monthly distribution: $0.0385 per share Payable date: March 31, 2026 Record date: March 24, 2026

3 metrics

Monthly distribution $0.0385 per share Regular monthly distribution on common stock

Payable date March 31, 2026 Distribution payable date for common shareholders

Record date March 24, 2026 Shareholders of record eligible for distribution

Market Reality Check

Price: $6.25 Vol: Volume 82,156 is about 34...

low vol

$6.25 Last Close

Volume Volume 82,156 is about 34% below the 20-day average of 125,074, suggesting muted trading interest ahead of the routine distribution. low

Technical Price at $6.25 is trading modestly above the 200-day MA of $5.95 and about 8.49% below the 52-week high.

Peers on Argus

HFRO is up about 0.32% while peers show mixed moves: ASG +2.17%, AWP +0.64%, SOR...

HFRO is up about 0.32% while peers show mixed moves: ASG +2.17%, AWP +0.64%, SOR +0.08%, and FOF, ARDC slightly negative, indicating a stock-specific response rather than a broad asset-management move.

Historical Context

5 past events · Latest: Feb 02 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 02	Monthly distribution	Neutral	-0.3%	Regular monthly distribution maintained at $0.0385 per common share.
Jan 02	Monthly distribution	Neutral	+0.5%	Announcement of standard $0.0385 monthly distribution and key dates.
Dec 01	Monthly distribution	Neutral	-0.3%	Declared $0.0385 monthly distribution with December record and pay dates.
Nov 06	Investor call	Neutral	-0.6%	Scheduled investor update call to discuss portfolio and performance.
Nov 03	Monthly distribution	Neutral	+0.8%	Regular $0.0385 monthly distribution and timing details announced.

Pattern Detected

Routine monthly distribution announcements have historically led to small, mixed price reactions around HFRO with no consistent directional pattern.

Recent Company History

Over the past several months, HFRO has repeatedly declared a regular monthly distribution of $0.0385 per share, with announcements on Nov 3, 2025, Dec 1, 2025, Jan 2, 2026, and Feb 2, 2026. These have produced modest positive and negative moves, indicating that the market generally treats them as expected. An investor update call in November 2025 also saw only a small price shift, reinforcing the view that such communications are well-telegraphed to the market.

Market Pulse Summary

This announcement reiterates HFRO’s regular monthly distribution of $0.0385 per share, continuing a ...

Analysis

This announcement reiterates HFRO’s regular monthly distribution of $0.0385 per share, continuing a pattern seen in prior months. Historical disclosures show stable payouts supported by a diversified mix of real estate-related securities, loans, and structured products. Investors may focus on the fund’s ability to sustain this level of income, its governance and large-shareholder dynamics from recent filings, and any future updates on portfolio performance or strategy shifts.

Key Terms

closed-end fund, real estate investment trusts ("REITs"), mezzanine debt, structured products, +4 more

8 terms

closed-end fund financial

"The Fund is a closed-end fund that seeks to provide growth of capital..."

A closed-end fund is a pool of money collected from many investors to buy a diversified mix of stocks, bonds, or other assets, and it is managed by professionals. Unlike some investment options, its shares are bought and sold on stock exchanges at prices determined by supply and demand, which can be above or below the fund's actual value. This structure allows investors to buy or sell shares easily, but the value may fluctuate based on market conditions.

real estate investment trusts ("REITs") financial

"secured by real estate, including real estate investment trusts ("REITs"), preferred equity..."

Real estate investment trusts (REITs) are companies that own, manage or finance income-producing property — think of buying a share of a large landlord instead of a single building. They trade like stocks, often pay out most of their rental income to shareholders as regular cash returns, and give investors an easy way to gain exposure to property markets, income and diversification without directly buying or managing real estate.

mezzanine debt financial

"including REITs, preferred equity, securities convertible into equity securities and mezzanine debt;"

Mezzanine debt is a hybrid loan that sits between a company’s senior bank debt and equity ownership: it pays higher interest than regular loans because it takes on more risk, and often includes an option to convert into shares or warrants. Investors care because it offers higher potential returns than plain debt while carrying greater chance of loss or equity dilution if the company struggles, making it a middle-ground choice for yield and upside.

structured products financial

"distressed securities, mezzanine securities, structured products (including but not limited to..."

Structured products are custom-made investment packages that combine familiar assets (like stocks or bonds) with contracts whose payouts depend on specific market outcomes, creating a tailored payoff profile — for example extra upside if an index rises or partial protection if it falls. They matter to investors because they can offer bespoke risk-return tradeoffs or capital protection, but carry issuer credit risk, added fees and complexity, and can be hard to value or sell quickly.

mortgage-backed securities financial

"structured products (including but not limited to mortgage-backed securities, collateralized loan..."

A mortgage-backed security is an investment made by pooling many home loans and selling the right to the borrowers’ monthly payments to investors, so you receive a stream of principal and interest much like collecting payments on a bundle of IOUs. It matters to investors because it provides regular income but carries risks from homeowners missing payments or paying off loans early, and its value moves with interest rates and housing market conditions.

collateralized loan obligations financial

"including but not limited to mortgage-backed securities, collateralized loan obligations and asset-backed..."

A collateralized loan obligation is a financial product that pools many corporate loans and repackages them into slices sold to investors, with some slices offering steady, lower returns and others offering higher returns but more risk. Like splitting a pizza into pieces for different tastes, CLOs let investors pick their preferred risk level and help banks fund lending, so changes in CLO performance influence credit availability and can move markets.

asset-backed securities financial

"mortgage-backed securities, collateralized loan obligations and asset-backed securities), convertible..."

A type of investment created by pooling many similar cash‑flowing assets — like mortgages, car loans, or credit card receivables — and selling slices of that bundle to investors who then receive the payments those assets generate. Think of it as a fruit basket where buyers earn the fruit sales: investors get steady income but also take on the risk that the underlying loans stop performing or are paid off early. Investors care because these securities can provide predictable yield, portfolio diversification, and varying levels of credit and liquidity risk depending on the quality of the underlying assets.

floating rate loans financial

"and (iii) floating rate loans and other securities deemed to be floating rate investments."

Floating rate loans are loans whose interest payments change over time because they are tied to a benchmark interest rate (for example LIBOR or SOFR) plus a fixed margin. For investors, they act like adjustable-rate loans: when market rates rise the income from the loan goes up, and when rates fall the income drops, so they can protect against rising rates but carry credit and refinancing risks that affect returns.

AI-generated analysis. Not financial advice.

DALLAS, March 2, 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 March 31, 2026, to shareholders of record at the close of business March 24, 2026.

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.

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.

About NexPoint Asset Management, L.P.

NexPoint Asset Management, L.P. is an SEC-registered investment adviser on the NexPoint investment platform. It is the adviser to a suite of registered open-end and close-end funds. 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 Griffith

IR@nexpoint.com

Media Relations

comms@nexpoint.com

View original content:https://www.prnewswire.com/news-releases/highland-opportunities-and-income-fund-announces-the-regular-monthly-distribution-302701545.html

SOURCE Highland Opportunities and Income Fund

FAQ

What did Highland Opportunities and Income Fund (HFRO) announce for March 2026 distribution?

The Fund announced a $0.0385 per share regular monthly distribution. According to the company, the payment date is March 31, 2026 and the record date is March 24, 2026.

When will HFRO shareholders receive the March 2026 distribution and who is eligible?

Eligible shareholders of record at the close of business on March 24, 2026 will receive the distribution on March 31, 2026. According to the company, distributions are paid to record holders on the stated payment date.

How often does Highland Opportunities and Income Fund (HFRO) pay distributions to shareholders?

The Fund declares and pays distributions on a monthly basis. According to the company, this distribution is part of its regular monthly payout schedule.

How much is HFRO's distribution per share for March 2026 and how does it affect income investors?

HFRO's distribution is $0.0385 per share for March 2026. According to the company, this provides a regular income stream consistent with the Fund's objective to deliver growth of capital and income.

What types of investments does Highland Opportunities and Income Fund (HFRO) use to support distributions?

The Fund invests in real estate-backed securities, REITs, preferreds, loans, corporate bonds, structured products, equities and floating rate loans. According to the company, these asset categories support its income-generation strategy.

What are the important dates investors should note for HFRO's March 2026 distribution (HFRO)?

Key dates: Record date March 24, 2026 and payment date March 31, 2026. According to the company, shareholders on the record date will receive the March distribution on the payment date.