FS Credit Opportunities Corp. (NYSE:FSCO) Short Interest Up 44.4% in October

FS Credit Opportunities Corp. (NYSE:FSCO) saw 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 trading volume of 677,000 shares, the short-interest ratio is currently 0.3 days.

Insiders Place Their Bets

In other FS Credit Opportunities 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 transaction 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 approximately $82,100.07. This represents a 88.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers boosted 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 purchasing an additional 2,941,488 shares during the period. Envestnet Asset Management Inc. raised its holdings in FS Credit Opportunities by 3.6% in the second quarter. Envestnet Asset Management Inc. now owns 1,854,560 shares of the company’s stock valued at $11,814,000 after acquiring an additional 64,734 shares in the last quarter. Vista Finance LLC raised its holdings in FS Credit Opportunities by 4.2% in the third quarter. Vista Finance LLC now owns 1,676,829 shares of the company’s stock valued at $10,648,000 after acquiring an additional 66,961 shares in the last quarter. Cetera Advisors LLC raised its holdings in FS Credit Opportunities by 2.3% in the first quarter. Cetera Advisors LLC now owns 1,294,009 shares of the company’s stock valued at $7,673,000 after acquiring an additional 28,563 shares in the last quarter. Finally, Ellis Investment Partners LLC raised its holdings in FS Credit Opportunities by 1.1% in the third quarter. Ellis Investment Partners LLC now owns 799,004 shares of the company’s stock valued at $5,074,000 after acquiring an additional 8,447 shares in the last quarter. Hedge funds and other institutional investors own 36.37% of the company’s stock.

FS Credit Opportunities Price Performance

FS Credit Opportunities stock traded up $0.05 during midday trading on Friday, hitting $6.55. 578,101 shares of the stock were exchanged, compared to its average volume of 672,854. FS Credit Opportunities has a fifty-two week low of $5.47 and a fifty-two week high of $6.75. The stock’s 50-day simple moving average is $6.52 and its 200 day simple moving average is $6.37.

FS Credit Opportunities Announces Dividend

The business 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 annualized dividend and a yield of 10.99%. The ex-dividend date of this dividend is Thursday, November 21st.

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.