FS Credit Opportunities Corp. (NYSE:FSCO) Plans Monthly Dividend of $0.06

Key Points

• Dividend declared: FS Credit Opportunities declared a monthly dividend of $0.0583 per share (paid May 29 to shareholders of record May 21), which annualizes to a 13.7% yield.
• Share performance: FSCO opened at $5.13 and was trading down about 2%, with a 52-week range of $4.13 to $7.65 and 50-/200-day simple moving averages near $5.06 and $5.81 respectively.
• Insider buying: Director Michael C. Forman purchased 38,549 shares at an average price of $5.20, boosting his holding to 44,312 shares (a 668.91% increase); insiders own about 0.27% of the company.

FS Credit Opportunities Corp. (NYSE:FSCO - Get Free Report) declared a monthly dividend on Thursday, May 7th. Shareholders of record on Thursday, May 21st will be given a dividend of 0.0583 per share on Friday, May 29th. This represents a c) annualized dividend and a yield of 13.7%. The ex-dividend date is Thursday, May 21st.

FS Credit Opportunities Trading Down 2.0%

FSCO stock opened at $5.13 on Friday. FS Credit Opportunities has a 52 week low of $4.13 and a 52 week high of $7.65. The company has a fifty day simple moving average of $5.06 and a two-hundred day simple moving average of $5.81.

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

Insider Buying and Selling at FS Credit Opportunities

In other news, insider Michael C. Forman bought 38,549 shares of FS Credit Opportunities stock in a transaction dated Thursday, February 26th. The shares were acquired at an average price of $5.20 per share, with a total value of $200,454.80. Following the completion of the purchase, the insider owned 44,312 shares in the company, valued at $230,422.40. The trade was a 668.91% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.27% of the company's stock.

Institutional Investors Weigh In On FS Credit Opportunities

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC purchased a new stake in shares of FS Credit Opportunities in the first quarter valued at $28,000. Balefire LLC increased its stake in FS Credit Opportunities by 148.5% in the 1st quarter. Balefire LLC now owns 63,311 shares of the company's stock worth $323,000 after buying an additional 37,831 shares during the period. Modera Wealth Management LLC purchased a new position in FS Credit Opportunities in the 1st quarter worth about $60,000. Independent Financial Group LLC purchased a new position in FS Credit Opportunities in the 1st quarter worth about $3,997,000. Finally, Calamos Advisors LLC purchased a new position in FS Credit Opportunities in the 1st quarter worth about $390,000. Hedge funds and other institutional investors own 36.37% of the company's stock.

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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