Independent Financial Group LLC Purchases Shares of 783,638 FS Credit Opportunities Corp. $FSCO

Key Points

• Independent Financial Group LLC bought 783,638 shares of FS Credit Opportunities Corp. in Q1, a stake valued at about $4.0 million and representing roughly 0.40% of the company.
• Institutional interest in FSCO appears broad, with several other hedge funds and investors adding positions; overall, 36.37% of the stock is owned by institutions and hedge funds.
• FS Credit Opportunities recently reported Q1 EPS of $0.11 on revenue of $57.34 million and announced a monthly dividend of $0.0583 per share, implying an annualized yield of about 14.3%.

Independent Financial Group LLC purchased a new position in FS Credit Opportunities Corp. (NYSE:FSCO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 783,638 shares of the company's stock, valued at approximately $3,997,000. Independent Financial Group LLC owned about 0.40% of FS Credit Opportunities at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Noble Wealth Management PBC grew its stake in FS Credit Opportunities by 165.8% during the 4th quarter. Noble Wealth Management PBC now owns 399,230 shares of the company's stock valued at $2,515,000 after purchasing an additional 249,041 shares during the last quarter. Riverbridge Partners LLC acquired a new position in shares of FS Credit Opportunities in the fourth quarter valued at about $1,328,000. Absolute Investment Advisers LLC purchased a new position in shares of FS Credit Opportunities in the fourth quarter worth about $1,995,000. Matisse Capital purchased a new position in shares of FS Credit Opportunities in the fourth quarter worth about $5,657,000. Finally, Diversified Enterprises LLC acquired a new stake in shares of FS Credit Opportunities during the fourth quarter worth about $831,000. 36.37% of the stock is currently owned by institutional investors and hedge funds.

FS Credit Opportunities Stock Performance

NYSE:FSCO opened at $4.91 on Friday. FS Credit Opportunities Corp. has a fifty-two week low of $4.13 and a fifty-two week high of $7.65. The company has a fifty day moving average of $4.93 and a two-hundred day moving average of $5.32.

FS Credit Opportunities (NYSE:FSCO - Get Free Report) last released its earnings results on Monday, March 2nd. The company reported $0.11 EPS for the quarter. The company had revenue of $57.34 million for the quarter.

FS Credit Opportunities Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be paid a dividend of $0.0583 per share. This represents a c) annualized dividend and a yield of 14.3%. 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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