OFS Credit Company, Inc. (NASDAQ:OCCI) Sees Large Decrease in Short Interest

OFS Credit Company, Inc. (NASDAQ:OCCI) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totaling 44,118 shares, a decline of 68.4% from the September 30th total of 139,644 shares. Based on an average trading volume of 196,251 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Investors Weigh In On OFS Credit

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Solutions Group LLC bought a new position in OFS Credit during the second quarter worth $49,000. Two Sigma Securities LLC acquired a new position in OFS Credit in the second quarter worth $40,000. Finally, Kestra Advisory Services LLC boosted its holdings in OFS Credit by 12.1% in the first quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock worth $268,000 after purchasing an additional 10,000 shares during the period. 23.77% of the stock is owned by institutional investors and hedge funds.

OFS Credit Price Performance

Shares of OCCI stock opened at $1.60 on Wednesday. The firm has a fifty day moving average of $2.26 and a two-hundred day moving average of $2.96. OFS Credit has a 1-year low of $1.40 and a 1-year high of $5.15.

OFS Credit (NASDAQ:OCCI) last issued its earnings results on Thursday, September 17th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. The company had revenue of $8.65 million during the quarter, compared to analyst estimates of $9.42 million.

OFS Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be issued a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 37.5%. The ex-dividend date is Friday, January 15th.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded OFS Credit from a “hold” rating to a “sell” rating in a report on Saturday, September 26th.

About OFS Credit

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end management investment company focused on generating current income and, to a lesser extent, capital appreciation. The company is externally managed by OFS Capital Management, LLC.

OFS Credit primarily invests in collateralized loan obligation (CLO) securities, including equity and subordinated debt tranches. CLOs are structured investment vehicles backed mainly by portfolios of senior secured corporate loans. Through these investments, OFS Credit seeks exposure to income generated by corporate lending markets while managing a portfolio of CLO-related assets.

The company has operated as a registered investment company and has elected to be treated as a regulated investment company for U.S.