OFS Credit Company, Inc. (NASDAQ:OCCI) Short Interest Up 122.3% in March

OFS Credit Company, Inc. (NASDAQ:OCCI) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 289,200 shares, an increase of 122.3% from the February 28th total of 130,100 shares. Based on an average daily volume of 337,900 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.9% of the shares of the company are sold short.

Institutional Trading of OFS Credit

Hedge funds have recently made changes to their positions in the stock. Virtus ETF Advisers LLC increased its position in OFS Credit by 14.2% in the fourth quarter. Virtus ETF Advisers LLC now owns 318,110 shares of the company’s stock worth $2,262,000 after buying an additional 39,531 shares during the period. Graypoint LLC grew its position in OFS Credit by 25.9% in the 4th quarter. Graypoint LLC now owns 164,826 shares of the company’s stock worth $1,172,000 after purchasing an additional 33,857 shares during the last quarter. LPL Financial LLC increased its stake in shares of OFS Credit by 1.4% in the fourth quarter. LPL Financial LLC now owns 106,421 shares of the company’s stock valued at $757,000 after purchasing an additional 1,445 shares during the period. Virtu Financial LLC bought a new stake in shares of OFS Credit during the third quarter valued at approximately $134,000. Finally, Nicolet Advisory Services LLC acquired a new position in shares of OFS Credit during the fourth quarter worth approximately $105,000. Institutional investors own 23.77% of the company’s stock.

OFS Credit Price Performance

OCCI stock opened at $6.19 on Friday. The firm has a fifty day moving average price of $6.99 and a two-hundred day moving average price of $7.17. OFS Credit has a 1-year low of $6.07 and a 1-year high of $7.81. The firm has a market cap of $97.49 million, a price-to-earnings ratio of 6.88 and a beta of 1.33.

OFS Credit (NASDAQ:OCCI) last announced its quarterly earnings data on Friday, March 14th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $10.06 million for the quarter, compared to the consensus estimate of $9.59 million. As a group, analysts expect that OFS Credit will post 0.89 EPS for the current fiscal year.

OFS Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 18th will be given a dividend of $0.115 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 22.29%. The ex-dividend date of this dividend is Thursday, April 17th. OFS Credit’s payout ratio is 230.16%.

About OFS Credit

OFS Credit Company, Inc is a fund of OFS Advisor.