HFRO Stock Summary and Trading Ideas (Highland Floating Rate Opportunities | NYSE:HFRO)

The Fund is a closed-end fund managed by Highland Capital Management Fund Advisors, L.P. (the "Manager"), an affiliated adviser of Highland Capital Management, L.P. The Fund invests primarily in floating rate loans and other securities deemed to be floating rate investments. The investment objective of the Fund is to provide a high level of current income, consistent with the preservation of capital in a registered fund format. The Fund declares and pays dividends of investment income monthly.

Highland Floating Rate Opportunities trades on the NYSE stock market under the symbol HFRO.

As of April 25, 2024, HFRO stock price declined to $6.37 with 165,976 million shares trading.

HFRO has a beta of 1.41, meaning it tends to be more sensitive to market movements. HFRO has a correlation of 0.27 to the broad based SPY ETF.

HFRO has a market cap of $435.08 million. This is considered a Small Cap stock.

In the last 3 years, HFRO stock traded as high as $12.26 and as low as $5.92.

HFRO has underperformed the market in the last year with a price return of -17.9% while the SPY ETF gained +23.6%. HFRO has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -9.3% and -4.2%, respectively, while the SPY returned +4.1% and -2.1%, respectively.

HFRO support price is $6.36 and resistance is $6.60 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HFRO stock will trade within this expected range on the day.