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

FS Credit Opportunities Corp. (NYSE:FSCO) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 31,600 shares, an increase of 229.2% from the August 15th total of 9,600 shares. Based on an average daily trading volume, of 748,200 shares, the days-to-cover ratio is currently 0.0 days.

Insiders Place Their Bets

In related news, CEO Michael C. Forman sold 102,860 shares of FS Credit Opportunities stock in a transaction 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 transaction, the chief executive officer now directly owns 13,437 shares in the company, valued at $82,100.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Michael C. Forman sold 102,860 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 13,437 shares of the company’s stock, valued at $82,100.07. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael C. Forman sold 218,961 shares of FS Credit Opportunities stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.15, for a total transaction 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. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On FS Credit Opportunities

Several hedge funds and other institutional investors have recently made changes to their positions in FSCO. Nomura Holdings Inc. raised its stake in 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 in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of FS Credit Opportunities by 9.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,844,114 shares of the company’s stock worth $34,656,000 after purchasing an additional 495,409 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of FS Credit Opportunities by 2,693.8% in the 1st quarter. Cetera Investment Advisers now owns 3,050,684 shares of the company’s stock valued at $18,091,000 after purchasing an additional 2,941,488 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of FS Credit Opportunities by 3.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,854,560 shares of the company’s stock valued at $11,814,000 after purchasing an additional 64,734 shares during the period. Finally, Vista Finance LLC grew its stake in FS Credit Opportunities by 865.7% during the 2nd quarter. Vista Finance LLC now owns 1,609,868 shares of the company’s stock worth $10,255,000 after buying an additional 1,443,169 shares during the last quarter. Institutional investors and hedge funds own 36.37% of the company’s stock.

FS Credit Opportunities Stock Performance

NYSE:FSCO traded up $0.07 during trading hours on Thursday, hitting $6.40. The company’s stock had a trading volume of 582,871 shares, compared to its average volume of 677,786. FS Credit Opportunities has a 52-week low of $5.00 and a 52-week high of $6.64. The stock has a fifty day moving average of $6.28 and a 200-day moving average of $6.14.

FS Credit Opportunities Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.25%.

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.