Short Interest in OFS Credit Company, Inc. (NASDAQ:OCCI) Expands By 124.2%

by · The Markets Daily

OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 371,889 shares, a growth of 124.2% from the April 30th total of 165,901 shares. Based on an average daily volume of 358,701 shares, the short-interest ratio is currently 1.0 days. Currently, 1.3% of the company’s shares are sold short.

OFS Credit Trading Down 1.2%

NASDAQ OCCI traded down $0.04 during trading hours on Monday, hitting $3.31. 196,051 shares of the company’s stock were exchanged, compared to its average volume of 358,530. The stock has a 50-day simple moving average of $3.13 and a 200 day simple moving average of $3.90. OFS Credit has a 1-year low of $2.62 and a 1-year high of $6.43. The firm has a market cap of $96.29 million, a price-to-earnings ratio of -2.53 and a beta of 0.68.

OFS Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 18.1%. OFS Credit’s dividend payout ratio (DPR) is currently -90.08%.

Institutional Investors Weigh In On OFS Credit

A number of hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of OFS Credit in the second quarter valued at approximately $26,000. TIAA Trust National Association bought a new position in shares of OFS Credit in the third quarter valued at approximately $54,000. Kestra Private Wealth Services LLC bought a new position in shares of OFS Credit in the third quarter valued at approximately $56,000. One Capital Management LLC bought a new position in shares of OFS Credit in the third quarter valued at approximately $58,000. Finally, Virtu Financial LLC bought a new position in shares of OFS Credit in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 23.77% of the company’s stock.

About OFS Credit

(Get Free Report)

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end, externally managed business development company that primarily invests in senior secured loans to U.S. middle-market companies. As a registered investment company under the Investment Company Act of 1940, OFS Credit seeks to generate current income and capital appreciation by providing first-lien and second-lien debt financing to privately held and sponsor-backed businesses. The company targets borrowers with stable cash flows and defensible market positions across diverse industries, including business services, healthcare, manufacturing and technology.

The company’s investment portfolio is weighted toward floating-rate loan instruments and subordinated debt, complemented by selective equity and equity-related securities.

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