FS Credit Opportunities (NYSE:FSCO) Reaches New 12-Month Low – Time to Sell?

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

FS Credit Opportunities Trading Down 1.8%

The business has a fifty day simple moving average of $5.94 and a two-hundred day simple moving average of $6.43.

FS Credit Opportunities Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be issued a $0.0583 dividend. The ex-dividend date is Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 15.6%.

Insider Activity at FS Credit Opportunities

In other FS Credit Opportunities news, insider Michael C. Forman bought 38,549 shares of FS Credit Opportunities stock in a transaction dated Thursday, February 26th. The shares were purchased at an average cost of $5.20 per share, with a total value of $200,454.80. Following the transaction, the insider directly owned 44,312 shares of the company’s stock, valued at $230,422.40. This represents a 668.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On FS Credit Opportunities

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thomas J. Herzfeld Advisors Inc. increased its holdings in FS Credit Opportunities by 97.2% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,899,781 shares of the company’s stock worth $11,969,000 after buying an additional 936,272 shares in the last quarter. Matisse Capital purchased a new position in FS Credit Opportunities in the fourth quarter worth about $5,657,000. &PARTNERS grew its stake in shares of FS Credit Opportunities by 3,103.3% during the 4th quarter. &PARTNERS now owns 516,757 shares of the company’s stock valued at $3,256,000 after purchasing an additional 500,625 shares during the period. Jane Street Group LLC increased its position in shares of FS Credit Opportunities by 280.4% during the 4th quarter. Jane Street Group LLC now owns 533,004 shares of the company’s stock valued at $3,358,000 after purchasing an additional 392,870 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of FS Credit Opportunities by 229.0% in the 4th quarter. Stifel Financial Corp now owns 555,106 shares of the company’s stock worth $3,497,000 after purchasing an additional 386,387 shares during the period. Hedge funds and other institutional investors 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.