DALLAS, April 24, 2020 /PRNewswire/ -- NexPoint Advisors, L.P. ("NexPoint") announced today that the Board of Trustees (the "Board") of the NexPoint Strategic Opportunities Fund (NYSE:NHF) ("NHF" or the "Fund") approved a repurchase program pursuant to which the Fund may repurchase up to 10% of its stock in open-market transactions over a one-year period.
The program allows for the Fund to repurchase shares, if trading at a discount, in open-market transactions until the conclusion of the repurchase period on April 24, 2021.
By purchasing Fund shares, which are currently trading at a discount to the Fund's net asset value ("NAV"), NexPoint seeks to enhance value for NHF shareholders.
The total repurchase amount and the timing of repurchases will be subject to the Fund's available cash, after consideration of reserves necessary for anticipated fund expenses and contingencies, and compliance with all applicable laws and regulations.
The Fund may sell portfolio securities in order to generate cash. There is no assurance that the Fund will repurchase shares in any amount.
About the NexPoint Strategic Opportunities Fund
The NexPoint Strategic Opportunities Fund (NYSE:NHF) (the "Fund") is a closed-end fund managed by NexPoint Advisors, L.P. ("NexPoint"). The Fund seeks to provide both current income and capital appreciation. For more information visit www.nexpointadvisors.com/fund/.
Shares of closed-end investment companies frequently trade at a discount to NAV. 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.
About NexPoint Advisors, L.P.
NexPoint Advisors, L.P. ("NexPoint") is a registered investment adviser to a suite of funds and investment offerings, including a closed-end fund, a business development company, an interval fund, and various real estate vehicles. NexPoint is part of a multibillion-dollar global alternative investment platform. For more information visit www.nexpointadvisors.com.
Before investing in the Fund, you should carefully consider the Fund's investment objectives, risks, charges, and expenses. For a copy of a prospectus or summary prospectus, which contains this and other information, please visit our website at www.nexpointadvisors.com or call 1-866-351-4440. Please read the fund prospectus carefully before investing.
SOURCE NexPoint Advisors, L.P.