FS Credit Opportunities Corp. (NYSE:FSCO) Sees Significant Increase in Short Interest

FS Credit Opportunities Corp. (NYSE:FSCO) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 176,300 shares, a growth of 44.4% from the October 15th total of 122,100 shares. Based on an average daily volume of 677,000 shares, the days-to-cover ratio is presently 0.3 days.

FS Credit Opportunities Stock Performance

NYSE:FSCO traded up $0.05 on Friday, reaching $6.55. 578,101 shares of the stock traded hands, compared to its average volume of 672,854. The company’s 50 day moving average is $6.52 and its 200-day moving average is $6.37. FS Credit Opportunities has a 1-year low of $5.47 and a 1-year high of $6.75.

FS Credit Opportunities Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 10.99%. The ex-dividend date is Thursday, November 21st.

Insider Buying and Selling

In other news, CEO Michael C. Forman sold 218,961 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $6.15, for a total value of $1,346,610.15. Following the completion of the transaction, the chief executive officer now owns 116,297 shares of the company’s stock, valued at approximately $715,226.55. This represents a 65.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.

Institutional Trading of FS Credit Opportunities

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venture Visionary Partners LLC boosted its holdings in shares of FS Credit Opportunities by 10.1% during the 3rd quarter. Venture Visionary Partners LLC now owns 17,358 shares of the company’s stock worth $110,000 after buying an additional 1,587 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of FS Credit Opportunities by 0.7% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 247,720 shares of the company’s stock worth $1,573,000 after purchasing an additional 1,687 shares in the last quarter. WR Wealth Planners LLC lifted its holdings in shares of FS Credit Opportunities by 14.2% in the 2nd quarter. WR Wealth Planners LLC now owns 15,740 shares of the company’s stock worth $100,000 after purchasing an additional 1,955 shares in the last quarter. McAdam LLC lifted its holdings in shares of FS Credit Opportunities by 4.4% in the 3rd quarter. McAdam LLC now owns 63,209 shares of the company’s stock worth $401,000 after purchasing an additional 2,645 shares in the last quarter. Finally, Levy Wealth Management Group LLC lifted its holdings in shares of FS Credit Opportunities by 3.0% in the 2nd quarter. Levy Wealth Management Group LLC now owns 92,036 shares of the company’s stock worth $586,000 after purchasing an additional 2,688 shares in the last quarter. Institutional investors and hedge funds own 36.37% of the company’s stock.

FS Credit Opportunities Company Profile

FS Credit Opportunities Corp. is a close ended fixed income fund launched by Franklin Square Capital Partners. The fund is managed by FS Global Advisor, LLC. It invests in fixed income markets across the globe, with a strong focus on Europe and the United States. The fund seeks to invest in securities of companies that are operating across diversified sectors.