FS Specialty Lending Fund (NYSE:FSSL) Shares Shorted: Short Interest Up 234.2% in September

FS Specialty Lending Fund (NYSE:FSSL) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 57,661 shares, an increase of 234.2% from the September 15th total of 17,253 shares. Based on an average trading volume of 251,824 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Ratings Changes

Separately, Compass Point began coverage on FS Specialty Lending Fund in a report on Wednesday, September 23rd. They issued a “buy” rating and a $15.75 price objective on the stock. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, FS Specialty Lending Fund presently has an average rating of “Buy” and an average target price of $15.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Post Resch Tallon Group Inc. boosted its stake in shares of FS Specialty Lending Fund by 207.7% during the 3rd quarter. Post Resch Tallon Group Inc. now owns 38,457 shares of the company’s stock worth $447,000 after acquiring an additional 25,957 shares in the last quarter. Noble Wealth Management PBC grew its holdings in shares of FS Specialty Lending Fund by 18.4% in the 3rd quarter. Noble Wealth Management PBC now owns 196,519 shares of the company’s stock worth $2,286,000 after acquiring an additional 30,516 shares during the period. Hopwood Nicholas Hunter acquired a new stake in shares of FS Specialty Lending Fund in the 2nd quarter worth approximately $262,000. Concurrent Investment Advisors LLC purchased a new position in FS Specialty Lending Fund in the 2nd quarter valued at approximately $257,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in FS Specialty Lending Fund in the 2nd quarter valued at approximately $61,000.

FS Specialty Lending Fund Stock Performance

Shares of FSSL traded down $0.09 during trading hours on Monday, reaching $11.44. The company had a trading volume of 251,180 shares, compared to its average volume of 391,066. The firm has a 50 day simple moving average of $11.63 and a 200-day simple moving average of $11.63. FS Specialty Lending Fund has a 12-month low of $10.75 and a 12-month high of $15.00.

FS Specialty Lending Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd were given a dividend of $0.1495 per share. This represents a $1.79 annualized dividend and a yield of 15.7%. The ex-dividend date was Wednesday, September 23rd.

FS Specialty Lending Fund (NYSE: FSSL) is a closed-end investment company that has elected to operate as a business development company. The fund seeks to generate current income and, to a lesser extent, capital appreciation by investing primarily in privately negotiated debt and other investments issued by middle-market companies.

Its portfolio may include senior secured loans, unitranche and subordinated debt, unsecured debt, and equity or equity-related securities. Through these investments, FS Specialty Lending Fund provides financing to privately held businesses that may use the proceeds for acquisitions, recapitalizations, refinancing, growth initiatives, or other corporate purposes.

The fund is externally managed by FS/KKR Advisor, LLC, an investment adviser affiliated with FS Investments and KKR.