FS Credit Opportunities (NYSE:FSCO) Reaches New 52-Week Low – What’s Next?

FS Credit Opportunities Corp. (NYSE:FSCO) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $4.13 and last traded at $4.35, with a volume of 2625135 shares changing hands. The stock had previously closed at $4.56.

FS Credit Opportunities Stock Performance

The company’s 50 day moving average price is $5.94 and its two-hundred day moving average price is $6.43.

FS Credit Opportunities Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be given a $0.0583 dividend. The ex-dividend date is Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 15.6%.

Insider Buying and Selling at FS Credit Opportunities

In related news, insider Michael C. Forman acquired 38,549 shares of the stock in a transaction dated Thursday, February 26th. The shares were purchased at an average cost of $5.20 per share, with a total value of $200,454.80. Following the transaction, the insider directly owned 44,312 shares in the company, valued at approximately $230,422.40. This represents a 668.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FS Credit Opportunities

Several large investors have recently added to or reduced their stakes in FSCO. Mather Group LLC. bought a new position in shares of FS Credit Opportunities in the third quarter worth about $38,000. Advocate Investing Services LLC bought a new position in shares of FS Credit Opportunities during the 4th quarter valued at approximately $43,000. Jessup Wealth Management Inc purchased a new position in shares of FS Credit Opportunities in the fourth quarter valued at $50,000. Larson Financial Group LLC increased its position 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 purchasing an additional 3,450 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in FS Credit Opportunities by 50.6% during the fourth quarter. Farther Finance Advisors LLC now owns 9,579 shares of the company’s stock valued at $60,000 after purchasing an additional 3,219 shares in the last quarter. Hedge funds and other institutional investors own 36.37% of the company’s stock.

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.