FS Credit Opportunities Corp. (NYSE:FSCO) Short Interest Up 91.4% in June

FS Credit Opportunities Corp. (NYSE:FSCO) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 1,365,814 shares, an increase of 91.4% from the May 31st total of 713,658 shares. Based on an average daily trading volume, of 1,425,856 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.7% of the shares of the stock are sold short.

FS Credit Opportunities Stock Performance

Shares of FSCO traded down $0.01 during trading hours on Wednesday, reaching $4.98. 963,351 shares of the company’s stock traded hands, compared to its average volume of 1,579,131. FS Credit Opportunities has a 12 month low of $4.13 and a 12 month high of $7.65. The firm’s 50 day simple moving average is $5.00 and its 200-day simple moving average is $5.43.

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

FS Credit Opportunities Announces Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.0583 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a c) annualized dividend and a yield of 14.0%.

Hedge Funds Weigh In On FS Credit Opportunities

A number of large investors have recently modified their holdings of the company. Concorde Asset Management LLC raised its stake in shares of FS Credit Opportunities by 7.9% during the first quarter. Concorde Asset Management LLC now owns 156,674 shares of the company’s stock worth $799,000 after acquiring an additional 11,521 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in shares of FS Credit Opportunities by 3,144.4% during the 1st 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 during the last quarter. Rivernorth Capital Management LLC bought a new position in shares of FS Credit Opportunities during the 1st quarter valued at $20,443,000. Lido Advisors LLC purchased a new position in FS Credit Opportunities in the 1st quarter worth $80,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in FS Credit Opportunities in the 1st quarter worth $28,000. 36.37% of the stock is owned by hedge funds and other institutional investors.

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.