James Dondero, Highland Capital Management Buy Some Nexpoint Credit Strategies Fund (NHF) Shares

James Dondero‘s Highland Capital Management has reported buying some shares of Nexpoint Credit Strategies Fund (NYSE:NHF). The fund acquired a total of 2,450 shares raising its stake to 116,249 shares. The securities have been bought in one deal the price amounting to $9.37 per share.

Aside from Highland, James Dondero, in a separate filing, reported buying 139,867 shares of Nexpoint Credit Strategies Fund (NYSE:NHF). The shares have been bought in one transaction at $9.08 apiece, raising Mr. Dondero’s stake to 2.75 million shares owned directly.

Earlier, the fund raised its exposure to Nexpoint Credit Strategies Fund (NYSE:NHF), buying 113,799 shares, at a price of $8.79 per share.

Highland Capital Management

Nexpoint Credit Strategies Fund (NYSE:NHF), is a closed-end fund, managed by NexPoint Advisors, L.P., an affiliated adviser of Highland Capital Management, L.P. The latter, serves financial advisors, institutions and individual investors, with respect to their alternative investment needs. The strategy ranges from, broad-based equity and fixed income investments, to alternative strategies, which includes long/short and alternative credit strategies.

Nexpoint Credit Strategies Fund (NYSE:NHF), has 25% of its investment portfolio in, U.S. Senior Loans, which represents a value of  $146.19 million. Another 28.5% portion of its portfolio is invested in Asset-backed Securities, worth $162.02 million.

Last week, Nexpoint Credit Strategies Fund (NYSE:NHF), declared a dividend of $0.05 per share. The fund has managed to increase, its dividends three times during the last year, which represent a total raise of 43%, on grounds of increased earnings, on portfolio positions and lowered costs, which was boosted due to a decrease in the cost of leverage facility.

Saba Capital, managed by Boaz Weinstein, is another hedge fund, which holds a less significant stake in, Nexpoint Credit Strategies Fund (NYSE:NHF), its position amasses 25,300 shares, worth $194,000.

Highland capital management, specializes in credit investments, but also invests in equities.

In the previous quarter, Highland Capital initiated a position in Affinity Gaming, a casino company, in which it now holds a stake of 8.2% of the stock. The fund has 7.88% of its equity portfolio invested in, Loral Space & Communications Ltd. (NASDAQ:LORL), the holding amassing 1.8 million shares, with a reported value of $121.94 million.

Disclosure: none

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