FS Credit Opportunities (NYSE:FSCO) Reaches New 12-Month High – Here’s What Happened

Shares of FS Credit Opportunities Corp. (NYSE:FSCO) hit a new 52-week high on Wednesday . The stock traded as high as $6.75 and last traded at $6.75, with a volume of 218236 shares trading hands. The stock had previously closed at $6.64.

FS Credit Opportunities Trading Up 2.0 %

The business has a fifty day moving average of $6.57 and a 200-day moving average of $6.40.

FS Credit Opportunities Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors 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 10.64%. The ex-dividend date of this dividend is Thursday, November 21st.

Insider Buying and Selling

In other news, CEO Michael C. Forman sold 218,961 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 116,297 shares of the company’s stock, valued at $715,226.55. This represents a 65.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

Institutional Trading of FS Credit Opportunities

Hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers lifted its position 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 acquiring an additional 2,941,488 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of FS Credit Opportunities by 159.2% in the third quarter. Advisors Asset Management Inc. now owns 208,106 shares of the company’s stock worth $1,321,000 after buying an additional 127,815 shares during the period. Concorde Asset Management LLC grew its holdings in shares of FS Credit Opportunities by 454.5% during the second quarter. Concorde Asset Management LLC now owns 98,089 shares of the company’s stock valued at $625,000 after buying an additional 80,400 shares in the last quarter. Vista Finance LLC raised its position 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 valued at $10,255,000 after buying an additional 1,443,169 shares during the period. Finally, Private Advisor Group LLC lifted its stake in FS Credit Opportunities by 165.9% in the 2nd 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. 36.37% of the stock is owned by hedge funds and other institutional investors.

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.