FS Credit Opportunities (NYSE:FSCO) Shares Gap Down – Here’s What Happened

Shares of FS Credit Opportunities Corp. (NYSE:FSCO) gapped down before the market opened on Friday . The stock had previously closed at $5.10, but opened at $4.51. FS Credit Opportunities shares last traded at $4.52, with a volume of 5,470,937 shares traded.

FS Credit Opportunities Price Performance

The stock has a 50-day simple moving average of $5.97 and a 200-day simple moving average of $6.46.

FS Credit Opportunities Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be given a dividend of $0.0583 per share. This represents a c) dividend on an annualized basis and a yield of 15.5%. The ex-dividend date is Tuesday, March 24th.

Insider Buying and Selling

In other news, insider Michael C. Forman bought 38,549 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was purchased at an average cost of $5.20 per share, for a total transaction of $200,454.80. Following the completion of the transaction, the insider owned 44,312 shares of the company’s stock, valued at $230,422.40. This trade represents a 668.91% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by insiders.

Institutional Trading of FS Credit Opportunities

Several institutional investors have recently added to or reduced their stakes in FSCO. Mather Group LLC. acquired a new stake in shares of FS Credit Opportunities in the 3rd quarter valued at about $38,000. Advocate Investing Services LLC acquired a new position in FS Credit Opportunities during the 4th quarter worth approximately $43,000. Jessup Wealth Management Inc acquired a new position in FS Credit Opportunities during the 4th quarter worth approximately $50,000. Larson Financial Group LLC boosted its holdings in FS Credit Opportunities by 73.1% in the fourth quarter. Larson Financial Group LLC now owns 8,172 shares of the company’s stock worth $51,000 after acquiring an additional 3,450 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in FS Credit Opportunities by 50.6% in the fourth quarter. Farther Finance Advisors LLC now owns 9,579 shares of the company’s stock valued at $60,000 after acquiring an additional 3,219 shares during the period. 36.37% of the stock is currently owned by institutional investors.

About FS Credit Opportunities

FS Credit Opportunities Fund Inc (NYSE: FSCO) is a diversified closed-end management investment company that seeks to provide shareholders with a high level of current income and capital appreciation. The fund pursues its objectives by investing primarily in corporate credit instruments, including high-yield bonds, leveraged loans and other credit-related securities. FSCO’s flexible mandate allows it to allocate across the credit spectrum, rotating among sectors, maturities and structures in response to changing market conditions.

Under normal market environments, the fund typically invests at least 80% of its total assets in non-investment grade corporate debt securities, with the remainder allocated to investment-grade obligations, cash and cash equivalents.