Short Interest in FS Credit Opportunities Corp. (NYSE:FSCO) Decreases By 45.3%

Key Points

• Short interest fell 45.3% in February to 816,539 shares (about 0.4% of shares short), leaving a days-to-cover ratio of just 0.3 days.
• Insider Michael C. Forman bought 38,549 shares on Feb. 26 for roughly $200,455, increasing his stake to 44,312 shares (a 668.9% rise); corporate insiders own 0.27% of the stock.
• The fund declared a monthly dividend of $0.0583 (ex‑dividend/record date Mar. 24, payable Mar. 31), implying a roughly 14.3% yield.

FS Credit Opportunities Corp. (NYSE:FSCO - Get Free Report) saw a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 816,539 shares, a drop of 45.3% from the February 12th total of 1,492,843 shares. Currently, 0.4% of the company's shares are short sold. Based on an average daily volume of 2,758,106 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 2,758,106 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.4% of the company's shares are short sold.

Insider Transactions at FS Credit Opportunities

In other FS Credit Opportunities news, insider Michael C. Forman purchased 38,549 shares of FS Credit Opportunities stock in a transaction that occurred on Thursday, February 26th. The shares were bought at an average price of $5.20 per share, for a total transaction of $200,454.80. Following the acquisition, the insider directly owned 44,312 shares in the company, valued at approximately $230,422.40. This trade represents a 668.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FSCO. Allworth Financial LP raised its holdings in FS Credit Opportunities by 3.0% in the 2nd quarter. Allworth Financial LP now owns 50,691 shares of the company's stock worth $368,000 after purchasing an additional 1,500 shares in the last quarter. Maridea Wealth Management LLC boosted its stake in shares of FS Credit Opportunities by 2.2% during the 4th quarter. Maridea Wealth Management LLC now owns 74,940 shares of the company's stock valued at $472,000 after purchasing an additional 1,581 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of FS Credit Opportunities by 4.4% during the 3rd quarter. Moors & Cabot Inc. now owns 40,569 shares of the company's stock valued at $280,000 after purchasing an additional 1,720 shares in the last quarter. Private Advisor Group LLC increased its position in shares of FS Credit Opportunities by 0.7% during 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 during the period. Finally, Certior Financial Group LLC raised its stake in FS Credit Opportunities by 0.7% in the fourth 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 in the last quarter. 36.37% of the stock is owned by hedge funds and other institutional investors.

FS Credit Opportunities Trading Up 0.7%

NYSE FSCO traded up $0.04 on Thursday, hitting $4.89. The company's stock had a trading volume of 3,253,947 shares, compared to its average volume of 2,175,137. FS Credit Opportunities has a 52-week low of $4.13 and a 52-week high of $7.65. The company's 50-day simple moving average is $5.85 and its 200 day simple moving average is $6.38.

FS Credit Opportunities Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be paid a $0.0583 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 14.3%.

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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