FS Credit Opportunities Corp. (NYSE:FSCO) Sees Large Growth in Short Interest

FS Credit Opportunities Corp. (NYSE:FSCO) saw a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 341,391 shares, an increase of 113.4% from the April 15th total of 159,983 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 1,101,972 shares, the days-to-cover ratio is presently 0.3 days.

Insider Activity at FS Credit Opportunities

In related news, insider Michael C. Forman acquired 38,549 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were purchased at an average cost of $5.20 per share, for a total transaction of $200,454.80. Following the acquisition, the insider owned 44,312 shares in the company, valued at $230,422.40. The trade was a 668.91% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FS Credit Opportunities

Several hedge funds and other institutional investors have recently modified their holdings of the company. Maridea Wealth Management LLC raised its stake in shares of FS Credit Opportunities by 2.2% during the fourth quarter. Maridea Wealth Management LLC now owns 74,940 shares of the company’s stock valued at $472,000 after purchasing an additional 1,581 shares in the last quarter. Moors & Cabot Inc. increased its stake in shares of FS Credit Opportunities by 4.4% during the third quarter. Moors & Cabot Inc. now owns 40,569 shares of the company’s stock valued at $280,000 after acquiring an additional 1,720 shares during the period. Private Advisor Group LLC lifted its stake in FS Credit Opportunities by 0.7% during the third quarter. Private Advisor Group LLC now owns 247,429 shares of the company’s stock valued at $1,710,000 after purchasing an additional 1,829 shares during the last quarter. Certior Financial Group LLC boosted its holdings in FS Credit Opportunities by 0.7% during the fourth quarter. Certior Financial Group LLC now owns 289,753 shares of the company’s stock worth $1,825,000 after buying an additional 1,965 shares in the last quarter. Finally, Centerpoint Advisory Group increased its holdings in shares of FS Credit Opportunities by 3.7% in the fourth quarter. Centerpoint Advisory Group now owns 62,079 shares of the company’s stock valued at $391,000 after buying an additional 2,198 shares in the last quarter. Institutional investors and hedge funds own 36.37% of the company’s stock.

FS Credit Opportunities Price Performance

FS Credit Opportunities stock opened at $5.08 on Friday. The business has a fifty day moving average of $5.06 and a two-hundred day moving average of $5.75. FS Credit Opportunities has a one year low of $4.13 and a one year high of $7.65.

FS Credit Opportunities (NYSE:FSCO) last issued its quarterly earnings results on Monday, March 2nd. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $57.34 million during the quarter.

FS Credit Opportunities Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.0583 per share. The ex-dividend date is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 13.8%.

FS Credit Opportunities Company Profile

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.