FS Specialty Lending Fund (NYSE:FSSL) Stock Short Interest Climbs 277.9%
by Sarita Garza · The Markets DailyFS Specialty Lending Fund (NYSE:FSSL – Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 17,253 shares, an increase of 277.9% from the August 31st total of 4,565 shares. Based on an average daily volume of 231,977 shares, the short-interest ratio is presently 0.1 days.
Analyst Ratings Changes
Separately, Compass Point began coverage on shares of FS Specialty Lending Fund in a research note on Wednesday. They set a “buy” rating and a $15.75 target price on the stock. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $15.75.
Get Our Latest Analysis on FS Specialty Lending Fund
Hedge Funds Weigh In On FS Specialty Lending Fund
A number of hedge funds have recently modified their holdings of the business. GHP Investment Advisors Inc. acquired a new stake in shares of FS Specialty Lending Fund during the 1st quarter worth about $25,000. Main Street Group LTD acquired a new position in FS Specialty Lending Fund in the first quarter valued at about $30,000. Raleigh Capital Management Inc. lifted its position in FS Specialty Lending Fund by 125.8% in the first quarter. Raleigh Capital Management Inc. now owns 3,460 shares of the company’s stock valued at $43,000 after buying an additional 1,928 shares during the last quarter. CoreCap Advisors LLC purchased a new position in FS Specialty Lending Fund during the second quarter worth about $61,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in FS Specialty Lending Fund during the second quarter worth about $61,000.
FS Specialty Lending Fund Trading Up 0.3%
FSSL opened at $11.58 on Monday. FS Specialty Lending Fund has a one year low of $10.75 and a one year high of $15.00. The business’s 50 day moving average price is $11.51 and its 200 day moving average price is $11.70.
FS Specialty Lending Fund Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be given a $0.1495 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $1.79 dividend on an annualized basis and a yield of 15.5%.
FS Specialty Lending Fund (NYSE: FSSL) is a closed-end investment company that has elected to operate as a business development company. The fund seeks to generate current income and, to a lesser extent, capital appreciation by investing primarily in privately negotiated debt and other investments issued by middle-market companies.
Its portfolio may include senior secured loans, unitranche and subordinated debt, unsecured debt, and equity or equity-related securities. Through these investments, FS Specialty Lending Fund provides financing to privately held businesses that may use the proceeds for acquisitions, recapitalizations, refinancing, growth initiatives, or other corporate purposes.
The fund is externally managed by FS/KKR Advisor, LLC, an investment adviser affiliated with FS Investments and KKR.