Key Points
- Insider purchase: Michael Forman bought 38,549 shares of FS Credit Opportunities (NYSE:FSCO) on Feb. 26 at an average price of $5.20 per share for about $200,455, boosting his direct holdings to 44,312 shares (a 668.91% increase).
- High dividend yield: The company paid a monthly dividend of $0.0678 on Feb. 27, implying an annualized yield of approximately 15.5%.
- Stock context and ownership: FSCO opened at $5.25, trades in a one-year range of $4.82–$7.65 with 50- and 200-day moving averages of $6.03 and $6.50 respectively, and institutional investors own about 36.37% of the shares.
FS Credit Opportunities Corp. (NYSE:FSCO - Get Free Report) insider Michael Forman purchased 38,549 shares of the stock in a transaction on Thursday, February 26th. The stock was acquired at an average price of $5.20 per share, for a total transaction of $200,454.80. Following the completion of the purchase, the insider directly owned 44,312 shares in the company, valued at approximately $230,422.40. The trade was a 668.91% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
FS Credit Opportunities Stock Performance
FS Credit Opportunities stock opened at $5.25 on Tuesday. The firm has a 50-day moving average of $6.03 and a 200-day moving average of $6.50. FS Credit Opportunities Corp. has a one year low of $4.82 and a one year high of $7.65.
FS Credit Opportunities Announces Dividend
The business also recently declared a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were paid a $0.0678 dividend. This represents a c) dividend on an annualized basis and a yield of 15.5%. The ex-dividend date was Friday, February 20th.
Institutional Investors Weigh In On FS Credit Opportunities
Several large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its stake in FS Credit Opportunities by 15.1% in the second quarter. Advisors Asset Management Inc. now owns 708,043 shares of the company's stock valued at $5,140,000 after acquiring an additional 92,641 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of FS Credit Opportunities by 74.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 590,181 shares of the company's stock valued at $4,285,000 after purchasing an additional 252,781 shares during the period. Financial Gravity Companies Inc. acquired a new stake in FS Credit Opportunities in the 2nd quarter valued at about $352,000. Delta Investment Management LLC lifted its stake in FS Credit Opportunities by 85.3% in the 3rd quarter. Delta Investment Management LLC now owns 474,501 shares of the company's stock valued at $3,279,000 after purchasing an additional 218,438 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in FS Credit Opportunities during the second quarter worth about $1,321,000. Institutional investors and hedge funds own 36.37% of the company's stock.
About FS Credit Opportunities
(
Get Free Report)
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.
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