FS Credit Opportunities (NYSE:FSCO) Hits New 1-Year High – Still a Buy?

Shares of FS Credit Opportunities Corp. (NYSE:FSCO) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $6.75 and last traded at $6.75, with a volume of 218236 shares changing hands. The stock had previously closed at $6.64.

FS Credit Opportunities Trading Up 1.7 %

The firm’s fifty day moving average price is $6.55 and its two-hundred day moving average price is $6.39.

FS Credit Opportunities Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.72 annualized dividend and a dividend yield of 10.67%.

Insider Activity

In related news, CEO Michael C. Forman sold 102,860 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $6.11, for a total value of $628,474.60. Following the sale, the chief executive officer now owns 13,437 shares in the company, valued at $82,100.07. This represents a 88.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On FS Credit Opportunities

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC raised its holdings in shares of FS Credit Opportunities by 8.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,543 shares of the company’s stock worth $537,000 after acquiring an additional 6,599 shares during the last quarter. Virtue Capital Management LLC increased its stake in FS Credit Opportunities by 18.9% in the 3rd quarter. Virtue Capital Management LLC now owns 41,709 shares of the company’s stock valued at $265,000 after buying an additional 6,626 shares during the last quarter. Jane Street Group LLC increased its stake in FS Credit Opportunities by 71.1% in the 3rd quarter. Jane Street Group LLC now owns 24,309 shares of the company’s stock valued at $154,000 after buying an additional 10,103 shares during the last quarter. Stifel Financial Corp lifted its position in shares of FS Credit Opportunities by 18.3% during the 3rd quarter. Stifel Financial Corp now owns 133,411 shares of the company’s stock worth $847,000 after buying an additional 20,666 shares in the last quarter. Finally, Quadrature Capital Ltd grew its holdings in shares of FS Credit Opportunities by 10.2% in the third quarter. Quadrature Capital Ltd now owns 46,834 shares of the company’s stock valued at $298,000 after acquiring an additional 4,334 shares in the last quarter. Institutional investors and hedge funds own 36.37% of the company’s stock.

About FS Credit Opportunities

FS Credit Opportunities Corp. is a close ended fixed income fund launched by Franklin Square Capital Partners. The fund is managed by FS Global Advisor, LLC. It invests in fixed income markets across the globe, with a strong focus on Europe and the United States. The fund seeks to invest in securities of companies that are operating across diversified sectors.