FS Credit Opportunities (NYSE:FSCO) Reaches New 1-Year Low – Here’s Why

FS Credit Opportunities Corp. (NYSE:FSCO) reached a new 52-week low on Monday . The company traded as low as $4.13 and last traded at $4.35, with a volume of 2625135 shares trading hands. The stock had previously closed at $4.56.

FS Credit Opportunities Stock Up 6.3%

The company has a fifty day moving average price of $5.88 and a 200-day moving average price of $6.39.

FS Credit Opportunities Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be given a dividend of $0.0583 per share. This represents a c) annualized dividend and a yield of 14.5%. The ex-dividend date is Tuesday, March 24th.

Insider Transactions at FS Credit Opportunities

In related news, insider Michael C. Forman purchased 38,549 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was bought at an average cost of $5.20 per share, with a total value of $200,454.80. Following the completion of the acquisition, the insider owned 44,312 shares of the company’s stock, valued at $230,422.40. The trade was a 668.91% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On FS Credit Opportunities

Hedge funds and other institutional investors have recently made changes to their positions in the company. EJMK Ventures LLC purchased a new position in shares of FS Credit Opportunities during the 4th quarter valued at approximately $171,000. Amicus Financial Advisors LLC purchased a new stake in FS Credit Opportunities during the fourth quarter worth $100,000. Financially in Tune LLC acquired a new stake in FS Credit Opportunities during the fourth quarter valued at $109,000. Alpine Global Management LLC acquired a new stake in FS Credit Opportunities during the fourth quarter valued at $83,000. Finally, Sit Investment Associates Inc. increased its holdings in FS Credit Opportunities by 6.9% in the fourth quarter. Sit Investment Associates Inc. now owns 3,247,090 shares of the company’s stock valued at $20,457,000 after buying an additional 210,736 shares in the last quarter. 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.