4,008,422 Shares in FS Credit Opportunities Corp. $FSCO Acquired by Rivernorth Capital Management LLC

Key Points

• Rivernorth Capital Management acquired 4,008,422 FS Credit Opportunities shares worth approximately $20.4 million, giving it a 2.02% stake and making FSCO its 19th-largest portfolio holding.
• FSCO shares opened at $4.95, near their 50-day average of $4.91 and below the 52-week high of $7.65; institutional investors and hedge funds collectively own 36.37% of the stock.
• The fund declared a monthly dividend of $0.0583 per share, implying an annualized yield of about 14.1%, with payment scheduled for July 31 to shareholders of record July 24.

Rivernorth Capital Management LLC acquired a new position in shares of FS Credit Opportunities Corp. (NYSE:FSCO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,008,422 shares of the company's stock, valued at approximately $20,443,000. FS Credit Opportunities accounts for approximately 1.0% of Rivernorth Capital Management LLC's portfolio, making the stock its 19th biggest position. Rivernorth Capital Management LLC owned 2.02% of FS Credit Opportunities as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Moors & Cabot Inc. lifted its stake in FS Credit Opportunities by 4.4% in the third quarter. Moors & Cabot Inc. now owns 40,569 shares of the company's stock worth $280,000 after acquiring an additional 1,720 shares during the last quarter. Private Advisor Group LLC raised its stake in FS Credit Opportunities by 0.7% in the third quarter. Private Advisor Group LLC now owns 247,429 shares of the company's stock valued at $1,710,000 after buying an additional 1,829 shares in the last quarter. Certior Financial Group LLC lifted its holdings in FS Credit Opportunities by 0.7% during the 4th quarter. Certior Financial Group LLC now owns 289,753 shares of the company's stock worth $1,825,000 after buying an additional 1,965 shares during the last quarter. Centerpoint Advisory Group boosted its position in shares of FS Credit Opportunities by 3.7% during the 4th quarter. Centerpoint Advisory Group now owns 62,079 shares of the company's stock worth $391,000 after acquiring an additional 2,198 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of FS Credit Opportunities by 50.6% in the 4th quarter. Farther Finance Advisors LLC now owns 9,579 shares of the company's stock valued at $60,000 after acquiring an additional 3,219 shares during the last quarter. 36.37% of the stock is owned by institutional investors and hedge funds.

FS Credit Opportunities Trading Up 0.7%

Shares of FS Credit Opportunities stock opened at $4.95 on Wednesday. FS Credit Opportunities Corp. has a 52 week low of $4.13 and a 52 week high of $7.65. The firm's 50 day moving average is $4.91 and its two-hundred day moving average is $5.25.

FS Credit Opportunities Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be paid a dividend of $0.0583 per share. This represents a c) dividend on an annualized basis and a yield of 14.1%. The ex-dividend date is Friday, July 24th.

About FS Credit Opportunities

FS Credit Opportunities Fund Inc NYSE: FSCO is a diversified closed-end management investment company that seeks to provide shareholders with a high level of current income and capital appreciation. The fund pursues its objectives by investing primarily in corporate credit instruments, including high-yield bonds, leveraged loans and other credit-related securities. FSCO’s flexible mandate allows it to allocate across the credit spectrum, rotating among sectors, maturities and structures in response to changing market conditions.

Under normal market environments, the fund typically invests at least 80% of its total assets in non-investment grade corporate debt securities, with the remainder allocated to investment-grade obligations, cash and cash equivalents.

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