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

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

Insiders Place Their Bets

In other news, CEO Michael C. Forman sold 218,961 shares of FS Credit Opportunities 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 directly owns 116,297 shares of the company’s stock, valued at approximately $715,226.55. The trade was a 65.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FS Credit Opportunities

Hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers increased its stake in shares of FS Credit Opportunities by 2,693.8% during 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 period. Vista Finance LLC grew its holdings in FS Credit Opportunities by 865.7% during the second 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 during the period. Private Advisor Group LLC raised its position in FS Credit Opportunities by 165.9% in the second quarter. Private Advisor Group LLC now owns 770,255 shares of the company’s stock worth $4,907,000 after acquiring an additional 480,537 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in FS Credit Opportunities by 159.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 208,106 shares of the company’s stock valued at $1,321,000 after acquiring an additional 127,815 shares during the last quarter. Finally, Alpine Global Management LLC boosted its position in shares of FS Credit Opportunities by 44.6% during the 1st quarter. Alpine Global Management LLC now owns 332,500 shares of the company’s stock valued at $1,972,000 after purchasing an additional 102,500 shares in the last quarter. Institutional investors own 36.37% of the company’s stock.

FS Credit Opportunities Trading Up 0.8 %

Shares of NYSE FSCO traded up $0.05 during mid-day trading on Friday, hitting $6.55. The company had a trading volume of 578,101 shares, compared to its average volume of 672,854. FS Credit Opportunities has a 12 month low of $5.47 and a 12 month high of $6.75. The firm’s 50 day simple moving average is $6.52 and its two-hundred day simple moving average is $6.37.

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 paid 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.

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.