Nexpoint Credit Strategies Fund (NYSE:NHF) is Attracting Smart Money

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Nexpoint Credit Strategies Fund (NYSE:NHF) reported that Highland Capital Management has picked up 1,186,390 of common stock as of 2017-06-23.

The acquisition brings the aggregate amount owned by Highland Capital Management to a total of 1,186,390 representing a 5.2% stake in the company.

For those not familiar with the company, Nexpoint Credit Strategies Fund is a non-diversified, closed-end management investment company. The Fund seeks to provide both current income and capital appreciation. In addition, the Fund may use short sales for non-hedging purposes to pursue its investment objective. The Fund invests in various sectors, which include chemicals, energy, gaming and leisure, housing, media and telecommunications, service, real estate, telecommunications, real estate investment trust, utility, healthcare, asset-backed securities, information technology, transportation and wireless communications. NexPoint Advisors, L.P. is the investment advisor and administrator to the Fund.

A glance at Nexpoint Credit Strategies Fund (NYSE:NHF) key stats reveals a current market capitalization of $345.64 Million based on $16.04 Million shares outstanding and a price at last close of $21.55 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-05-02, Dondero picked up 100 at a purchase price of $23.44. This brings their total holding to 1,011,085 as of the date of the filing.

On the sell side, the most recent transaction saw Dondero unload 322 shares at a sale price of $11.33. This brings their total holding to 25,360.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Nexpoint Credit Strategies Fund (NYSE:NHF) as things move forward to see if its progress aligns with these transactions.

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