CERTIFICATION PURSUANT TO RULE 30A-2(B) UNDER THE 1940 ACT AND
                     SECTION 906 OF THE SARBANES-OXLEY ACT

I, James D. Dondero, Chief Executive Officer of Highland Floating Rate Advantage
Fund (the "Registrant"), certify that:

         1.     The Form N-CSR of the Registrant (the "Report")  fully complies
                with the  requirements of Section 13(a) or 15(d) of the
                Securities Exchange Act of 1934, as amended; and

         2.     The information  contained in the Report fairly presents, in all
                material  respects,  the  financial  condition  and  results  of
                operations of the Registrant.

Date:  APRIL 25, 2007           /S/ JAMES D. DONDERO
     -------------------        ------------------------------------------------
                                James D. Dondero, Chief Executive Officer
                                (principal executive officer)

I, M. Jason  Blackburn,  Chief  Financial  Officer  of  Highland  Floating  Rate
Advantage Fund (the "Registrant"), certify that:

         1.     The Form N-CSR of the Registrant (the "Report")  fully complies
                with the  requirements of Section 13(a) or 15(d) of the
                Securities Exchange Act of 1934, as amended; and

         2.     The information  contained in the Report fairly presents, in all
                material  respects,  the  financial  condition  and  results  of
                operations of the Registrant.

Date:  APRIL 25, 2007           /S/ M. JASON BLACKBURN
     --------------------       --------------------------------------------
                                M. Jason Blackburn, Chief Financial Officer
                                (principal financial officer)