FS Credit Opportunities (NYSE:FSCO) Sees Large Volume Increase – Time to Buy?

FS Credit Opportunities Corp. (NYSE:FSCO) saw an uptick in trading volume on Monday . 1,250,108 shares traded hands during 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 Price Performance

The firm has a 50 day moving average price of $6.26 and a 200 day moving average price of $6.75.

FS Credit Opportunities Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 23rd were issued a dividend of $0.0678 per share. This represents a c) annualized dividend and a yield of 13.7%. The ex-dividend date was Friday, January 23rd.

Institutional Investors Weigh In On FS Credit Opportunities

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thomas J. Herzfeld Advisors Inc. grew its position in shares of FS Credit Opportunities by 2.5% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 3,223,806 shares of the company’s stock valued at $23,405,000 after purchasing an additional 78,942 shares in the last quarter. Vista Finance LLC lifted its position in shares of FS Credit Opportunities by 5.6% during the 3rd quarter. Vista Finance LLC now owns 2,170,009 shares of the company’s stock valued at $14,995,000 after acquiring an additional 115,286 shares during the period. Envestnet Asset Management Inc. increased its stake in FS Credit Opportunities by 4.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,000,253 shares of the company’s stock valued at $14,522,000 after purchasing an additional 90,470 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in FS Credit Opportunities by 2.9% during the second quarter. Rockefeller Capital Management L.P. now owns 1,292,277 shares of the company’s stock worth $9,382,000 after purchasing an additional 36,521 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of FS Credit Opportunities by 7.3% during the 2nd quarter. Osaic Holdings Inc. now owns 1,235,949 shares of the company’s stock worth $8,973,000 after buying an additional 83,824 shares during the last quarter. Hedge funds and other institutional investors own 36.37% of the company’s stock.

About FS Credit Opportunities

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.