FS Credit Opportunities (NYSE:FSCO) Stock Price Up 0.9% - Still a Buy?

Key Points

• FS Credit Opportunities shares rose 0.9% to $5.235 during mid-day trading, outperforming their previous close of $5.19. Trading volume was about 862,497 shares, 38% below the average session volume.
• The fund declared a monthly dividend of $0.0594 per share, representing a 13.6% annualized yield. FSCO primarily invests in high-yield bonds, leveraged loans and other corporate credit securities.
• Institutional investors and hedge funds own 36.37% of FSCO, with several firms significantly increasing their positions during the latest reporting periods.

Shares of FS Credit Opportunities Corp. (NYSE:FSCO - Get Free Report) rose 0.9% during mid-day trading on Wednesday . The company traded as high as $5.25 and last traded at $5.2350. Approximately 862,497 shares were traded during trading, a decline of 38% from the average session volume of 1,397,089 shares. The stock had previously closed at $5.19.

FS Credit Opportunities Price Performance

The company's 50 day moving average is $4.99 and its 200 day moving average is $5.05.

FS Credit Opportunities Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were issued a dividend of $0.0594 per share. This represents a c) annualized dividend and a dividend yield of 13.6%. This is a boost from FS Credit Opportunities's previous monthly dividend of $0.06. The ex-dividend date was Monday, August 24th.

Institutional Investors Weigh In On FS Credit Opportunities

Several hedge funds have recently modified their holdings of FSCO. Rivernorth Capital Management LLC bought a new stake in FS Credit Opportunities during the 1st quarter worth $20,443,000. Arkadios Wealth Advisors boosted its stake in shares of FS Credit Opportunities by 3,144.4% during the first quarter. Arkadios Wealth Advisors now owns 3,563,531 shares of the company's stock valued at $18,174,000 after purchasing an additional 3,453,693 shares in the last quarter. Wagner Wealth Management LLC boosted its stake in shares of FS Credit Opportunities by 781.3% during the first quarter. Wagner Wealth Management LLC now owns 3,474,655 shares of the company's stock valued at $17,721,000 after purchasing an additional 3,080,389 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. grew its holdings in shares of FS Credit Opportunities by 97.2% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,899,781 shares of the company's stock worth $11,969,000 after purchasing an additional 936,272 shares during the last quarter. Finally, Independent Financial Group LLC bought a new stake in shares of FS Credit Opportunities during the first quarter worth about $3,997,000. Institutional investors and hedge funds own 36.37% of the company's stock.

FS Credit Opportunities Company Profile

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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