NYSE · Asset Management · USD

Highland Funds I - Highland Opportunities and Income Fund (HFRO) Stock Analysis

Highland Funds I - Highland Opportunities and Income Fund (HFRO) is a Asset Management stock listed on NYSE and quoted in US Dollar.

Last Updated: October 21, 2026

HFRO

$6.11

−$0.01 (−0.16%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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HFRO Key Statistics

As of Oct 21, 2026

Trading

Open: $6.03
Previous Close: $6.12
Day's Range: 6.08–6.15
52-Week Range: 5.47–7.74
Volume: 82.94K

Valuation

Market Cap: $337.38M
P/E Ratio: 122.20
EPS (ttm): 0.05

Financials (FY)

Revenue (FY): −$5.59M
Net Income (FY): −$14.69M
Shares Outstanding: 55.22M
1-Year Return: +0.76%

Dividend and dates

Dividend: $0.46+7.55%
Ex-Dividend Date: October 23, 2026
Avg Volume: 106.06K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, HFRO closed at $6.11, +0.76% over 1 year.

Highland Funds I - Highland Opportunities and Income Fund (HFRO) has a market capitalization of $337.38M.

In fiscal 2025, HFRO reported revenue of −$5.59M.

HFRO Stock Return by Calendar Year

Highland Funds I - Highland Opportunities and Income Fund (HFRO) return since Nov 2017: what $10,000 became

1 year: $10,000 $10,076; +0.76%
5 years: $10,000 $8,169; −18.31%
Since Nov 2017: $10,000 $8,084; −19.16%

If you had invested $10,000 in Highland Funds I - Highland Opportunities and Income Fund (HFRO) at the close on November 6, 2017, the earliest close on record here, it would have been worth $8,084 at the close on October 21, 2026: −19.16% in total, −2.35% a year, with dividends reinvested, over a partial period shorter than 10 years. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

−27.10%+25.21%+6.62%

2017*201820192020202120222023202420252026*

Year	Return
2026 (partial year)	+6.62%
2025	+25.21%
2024	−27.10%
2023	−16.97%
2022	+1.71%
2021	+16.33%
2020	−8.42%
2019	+4.22%
2018	−12.30%
2017 (partial year)	+1.01%

As of October 21, 2026.

HFRO Revenue and Earnings by Fiscal Year

FY ends December

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	−$5.59M	−$14.69M	262.7%
2024	−$23.81M	−$29.47M	123.8%
2023	−$1.01M	−$6.29M	621.5%
2022	$44.54M	$38.70M	86.9%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	−$5.59M	—	—	−$14.69M	262.7%
2024	−$23.81M	—	—	−$29.47M	123.8%
2023	−$1.01M	—	—	−$6.29M	621.5%
2022	$44.54M	—	—	$38.70M	86.9%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

HFRO Dividend History

’17’18’19’20’21’22’23’24’25’26*

$0.47+0.0% vs 2024

Dividends per share, 2025 · 12 payments

Year	Dividends per share	Payments	Change
2026*	$0.31	8	—
2025	$0.47	12	+0.0%
2024	$0.47	12	−49.4%
2023	$0.92	12	+0.0%

Year	Dividends per share	Payments	Change
2026 (partial year)	$0.31	8	—
2025	$0.47	12	+0.0%
2024	$0.47	12	−49.4%
2023	$0.92	12	+0.0%
2022	$0.92	12	+0.0%
2021	$0.92	12	+0.0%
2020	$0.92	12	+0.0%
2019	$0.92	12	+0.0%
2018	$0.92	12	+500.0%
2017	$0.15	2	—

Most recent payment: $0.04 per share, ex-dividend August 24, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

HFRO Valuation vs Asset Management Median

Median of 512 stocks

Metric	HFRO	Asset Management median	vs median
P/E	122.20	9.44	12.9x the median

Medians across 512 Asset Management stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Recent News

News provided by third-party sources. Not financial advice.

Analysis

Data-derived

Company Overview

The market values Highland Funds I - Highland Opportunities and Income Fund (HFRO) at $337.38M. It is classified in the Asset Management industry, within the Financial Services sector.

Over the past 52 weeks the price has ranged from $5.47 to $7.74. HFRO last closed at $6.11 on October 21, 2026. That is −$0.01 (−0.16%) against the previous close. The latest close sits 11.7% above that 52-week low.

Financial Health

In fiscal 2025, Highland Funds I - Highland Opportunities and Income Fund reported revenue of −$5.59M. The same year closed with a net loss of $14.69M. Trailing earnings per share are 0.05.

Across the 4 fiscal years on file, revenue moves from $44.54M in 2022 to −$5.59M in 2025. Of those 4 years, 1 report positive net income.

Valuation Assessment

The trailing P/E ratio stands at 122.2. That is 12.9 times the Asset Management median of 9.44. The medians here are taken across 512 Asset Management companies that report the metric.

The trailing one-year total return is +0.76%. Measured over 5 years, that is −3.96% a year compounded. Daily returns over the trailing 9 years annualize to a volatility of 22.5%.

Growth & Income

HFRO pays a dividend yielding 7.55%. That is 1.4 percentage points below the Asset Management median yield of 8.91%. The indicated annual rate is $0.46 a share. The ex-dividend date on file is October 23, 2026. Dividends are recorded for 10 calendar years; 2026 shows 8 payments totalling $0.31 a share. The year before, 2025, totalled $0.47 a share.

Across the complete calendar years on file, 2025 returned +25.21% and 2024 returned −27.10%. Of the 8 complete calendar years on file, 4 finished higher. So far in 2026 the total return is +6.62%.

Peer Comparison

Highland Funds I - Highland Opportunities and Income Fund (HFRO) operates in the Asset Management industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
Highland Funds I - Highland Opportunities and Income Fund	HFRO	$337.38M	122.2
BlackRock, Inc.	BLK	$184.31B	25.8
Blackstone Inc.	BX	$127.43B	23.9
Brookfield Corporation	BN	$83.74B	69.5

The Asset Management industry average P/E ratio is 9.4x. Highland Funds I - Highland Opportunities and Income Fund trades at a P/E of 122.2.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About Highland Funds I - Highland Opportunities and Income Fund

Highland Funds I - Highland Opportunities and Income Fund is a close-ended fixed income mutual fund launched by Highland Capital Management, L.P. It is managed by Highland Capital Management Fund Advisors, L.P. The fund invests in fixed income markets of countries across the globe. It primarily invests in floating rate loans and other securities deemed to be floating rate investments, with an emphasis on adjustable rate senior loans to corporations and partnerships. The fund seeks to invest in below investment grade securities. It also invests through derivatives. The fund benchmarks the performance of its portfolio against the Credit Suisse Leveraged Loan Index. It was formerly known as Highland Funds I - Highland Income Fund. Highland Funds I - Highland Opportunities and Income Fund was formed on January 13, 2000 and is domiciled in the United States.

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