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

FS Credit Opportunities Corp. (NYSE:FSCO) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 14,000 shares, a decline of 55.7% from the August 31st total of 31,600 shares. Based on an average trading volume of 2,700 shares, the days-to-cover ratio is presently 5.2 days.

Insider Buying and Selling at FS Credit Opportunities

In related news, CEO Michael C. Forman sold 102,860 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $6.11, for a total value of $628,474.60. Following the completion of the sale, the chief executive officer now directly owns 13,437 shares in the company, valued at $82,100.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael C. Forman sold 102,860 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $6.11, for a total value of $628,474.60. Following the completion of the sale, the chief executive officer now directly owns 13,437 shares in the company, valued at approximately $82,100.07. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael C. Forman sold 218,961 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.15, for a total value of $1,346,610.15. Following the sale, the chief executive officer now directly owns 116,297 shares of the company’s stock, valued at approximately $715,226.55. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of FS Credit Opportunities

A number of hedge funds have recently modified their holdings of FSCO. Nomura Holdings Inc. lifted its holdings in shares of FS Credit Opportunities by 1,134.0% during the 4th quarter. Nomura Holdings Inc. now owns 6,755,907 shares of the company’s stock worth $38,306,000 after acquiring an additional 6,208,428 shares during the period. Cetera Investment Advisers raised its stake in shares of FS Credit Opportunities by 2,693.8% in the first quarter. Cetera Investment Advisers now owns 3,050,684 shares of the company’s stock valued at $18,091,000 after acquiring an additional 2,941,488 shares during the last quarter. Vista Finance LLC boosted its holdings in shares of FS Credit Opportunities by 865.7% in the 2nd quarter. Vista Finance LLC now owns 1,609,868 shares of the company’s stock worth $10,255,000 after acquiring an additional 1,443,169 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of FS Credit Opportunities by 165.9% during the second quarter. Private Advisor Group LLC now owns 770,255 shares of the company’s stock worth $4,907,000 after purchasing an additional 480,537 shares during the last quarter. Finally, Choreo LLC bought a new position in shares of FS Credit Opportunities in the first quarter valued at about $2,290,000. Institutional investors own 36.37% of the company’s stock.

FS Credit Opportunities Price Performance

FSCO opened at $6.40 on Friday. The business has a 50 day moving average of $6.26 and a 200-day moving average of $6.18. FS Credit Opportunities has a 1-year low of $5.21 and a 1-year high of $6.64.

FS Credit Opportunities Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, September 23rd. This represents a $0.72 annualized dividend and a yield of 11.25%.

About FS Credit Opportunities

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.