Absolute Investment Advisers LLC Buys Shares of 313,946 FS Credit Opportunities Corp. $FSCO

Key Points

• Absolute Investment Advisers LLC bought a new stake of 313,946 shares of FS Credit Opportunities (about $1.995M), representing roughly 0.16% of the company, while other hedge funds also increased holdings and institutional investors now own 36.37% of the stock.
• Insider Michael C. Forman purchased 38,549 shares at an average $5.20 (≈$200,455), boosting his position by 668.91% to 44,312 shares; corporate insiders own about 0.27% of FSCO.
• FSCO declared a monthly dividend of $0.0583 per share (annualized yield ~13.6%) with a record/ex-dividend date of April 23 and a payment date of April 30.

Absolute Investment Advisers LLC bought a new stake in shares of FS Credit Opportunities Corp. (NYSE:FSCO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 313,946 shares of the company's stock, valued at approximately $1,995,000. Absolute Investment Advisers LLC owned about 0.16% of FS Credit Opportunities at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Quadrature Capital Ltd increased its holdings in shares of FS Credit Opportunities by 2,815.4% in the third quarter. Quadrature Capital Ltd now owns 316,147 shares of the company's stock valued at $2,185,000 after purchasing an additional 305,303 shares during the last quarter. Noble Wealth Management PBC grew its position in FS Credit Opportunities by 165.8% in the fourth quarter. Noble Wealth Management PBC now owns 399,230 shares of the company's stock worth $2,515,000 after acquiring an additional 249,041 shares during the period. Delta Investment Management LLC grew its position in FS Credit Opportunities by 85.3% in the third quarter. Delta Investment Management LLC now owns 474,501 shares of the company's stock worth $3,279,000 after acquiring an additional 218,438 shares during the period. Riverbridge Partners LLC purchased a new position in FS Credit Opportunities in the fourth quarter worth approximately $1,328,000. Finally, Castleview Partners LLC grew its position in FS Credit Opportunities by 164.9% in the fourth quarter. Castleview Partners LLC now owns 293,178 shares of the company's stock worth $1,847,000 after acquiring an additional 182,496 shares during the period. Institutional investors and hedge funds own 36.37% of the company's stock.

Insider Activity at FS Credit Opportunities

In other news, insider Michael C. Forman purchased 38,549 shares of the stock in a transaction dated Thursday, February 26th. The stock was acquired at an average cost of $5.20 per share, for a total transaction of $200,454.80. Following the completion of the transaction, the insider directly owned 44,312 shares in the company, valued at approximately $230,422.40. This represents a 668.91% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

FS Credit Opportunities Trading Down 1.8%

Shares of FS Credit Opportunities stock opened at $5.16 on Wednesday. FS Credit Opportunities Corp. has a fifty-two week low of $4.13 and a fifty-two week high of $7.65. The stock has a 50 day moving average of $5.18 and a 200 day moving average of $5.92.

FS Credit Opportunities Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 23rd will be given a dividend of $0.0583 per share. This represents a c) annualized dividend and a dividend yield of 13.6%. The ex-dividend date is Thursday, April 23rd.

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.

Want to see what other hedge funds are holding FSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FS Credit Opportunities Corp. (NYSE:FSCO - Free Report).

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