FS Credit Opportunities (NYSE:FSCO) Reaches New 1-Year High – Still a Buy?

FS Credit Opportunities Corp. (NYSE:FSCO) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $7.24 and last traded at $7.24, with a volume of 463565 shares changing hands. The stock had previously closed at $7.23.

FS Credit Opportunities Stock Down 0.1%

The company’s 50 day simple moving average is $6.84 and its 200 day simple moving average is $6.86.

FS Credit Opportunities Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 22nd were given a $0.0645 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 10.71%. The ex-dividend date of this dividend was Thursday, May 22nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blackstone Inc. bought a new stake in FS Credit Opportunities during the 4th quarter worth approximately $11,341,000. Invesco Ltd. bought a new stake in shares of FS Credit Opportunities during the fourth quarter worth $1,363,000. Sanctuary Advisors LLC raised its holdings in shares of FS Credit Opportunities by 87.4% during the fourth quarter. Sanctuary Advisors LLC now owns 154,687 shares of the company’s stock worth $1,063,000 after acquiring an additional 72,144 shares during the period. Noble Wealth Management PBC acquired a new stake in shares of FS Credit Opportunities during the fourth quarter worth $3,255,000. Finally, Modern Wealth Management LLC acquired a new position in FS Credit Opportunities in the 4th quarter worth $1,220,000. 36.37% of the stock is owned by institutional investors and hedge funds.

FS Credit Opportunities Company Profile

FS Credit Opportunities Corp. is a close ended fixed income fund launched by Franklin Square Capital Partners. The fund is managed by FS Global Advisor, LLC. It invests in fixed income markets across the globe, with a strong focus on Europe and the United States. The fund seeks to invest in securities of companies that are operating across diversified sectors.