FS Credit Opportunities (NYSE:FSCO) Sees Unusually-High Trading Volume – Time to Buy?
by Tristan Rich · The Markets DailyFS Credit Opportunities Corp. (NYSE:FSCO – Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 1,250,108 shares traded hands during mid-day trading, an increase of 11% from the previous session’s volume of 1,121,661 shares.The stock last traded at $5.81 and had previously closed at $6.07.
FS Credit Opportunities Trading Down 2.2%
The firm has a fifty day moving average price of $6.26 and a 200-day moving average price of $6.75.
FS Credit Opportunities Announces Dividend
The business also recently declared a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 23rd were paid a $0.0678 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 13.7%.
Hedge Funds Weigh In On FS Credit Opportunities
Institutional investors have recently made changes to their positions in the business. Focus Partners Wealth raised its position in shares of FS Credit Opportunities by 5.0% during the first quarter. Focus Partners Wealth now owns 80,960 shares of the company’s stock valued at $571,000 after buying an additional 3,839 shares during the last quarter. Truist Financial Corp bought a new position in shares of FS Credit Opportunities during the second quarter worth about $146,000. Precedent Wealth Partners LLC bought a new stake in FS Credit Opportunities in the 2nd quarter valued at approximately $133,000. Ergawealth Advisors Inc. acquired a new position in shares of FS Credit Opportunities during the 2nd quarter worth about $129,000. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of FS Credit Opportunities by 5.3% in the second quarter. Wealthcare Advisory Partners LLC now owns 106,897 shares of the company’s stock valued at $776,000 after buying an additional 5,425 shares during the last quarter. 36.37% of the stock is currently owned by institutional investors.
FS Credit Opportunities Company Profile
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.