OFS Credit Company, Inc. (NASDAQ:OCCI) Sees Large Decrease in Short Interest

OFS Credit Company, Inc. (NASDAQ:OCCI) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 44,118 shares, a decrease of 68.4% from the September 30th total of 139,644 shares. Based on an average daily volume of 196,251 shares, the short-interest ratio is currently 0.2 days. Currently, 0.2% of the company’s stock are short sold.

OFS Credit Price Performance

OFS Credit stock opened at $1.60 on Wednesday. The stock’s 50 day moving average price is $2.26 and its 200 day moving average price is $2.96. OFS Credit has a one year low of $1.40 and a one year high of $5.15.

OFS Credit (NASDAQ:OCCI) last issued its quarterly earnings data on Thursday, September 17th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The firm had revenue of $8.65 million during the quarter, compared to analyst estimates of $9.42 million.

OFS Credit Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be paid a $0.05 dividend. The ex-dividend date is Friday, January 15th. This represents a $0.60 annualized dividend and a dividend yield of 37.5%.

Institutional Investors Weigh In On OFS Credit

Large investors have recently added to or reduced their stakes in the company. Advisory Solutions Group LLC purchased a new stake in OFS Credit during the 2nd quarter worth $49,000. Two Sigma Securities LLC acquired a new position in OFS Credit in the 2nd quarter worth $40,000. Finally, Kestra Advisory Services LLC lifted its holdings in OFS Credit by 12.1% in the 1st quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock worth $268,000 after buying an additional 10,000 shares in the last quarter. 23.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered OFS Credit from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th.

OFS Credit Company Profile

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end management investment company focused on generating current income and, to a lesser extent, capital appreciation. The company is externally managed by OFS Capital Management, LLC.

OFS Credit primarily invests in collateralized loan obligation (CLO) securities, including equity and subordinated debt tranches. CLOs are structured investment vehicles backed mainly by portfolios of senior secured corporate loans. Through these investments, OFS Credit seeks exposure to income generated by corporate lending markets while managing a portfolio of CLO-related assets.

The company has operated as a registered investment company and has elected to be treated as a regulated investment company for U.S.