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

Shares of FS Credit Opportunities Corp. (NYSE:FSCO) hit a new 52-week high during trading on Wednesday . The stock traded as high as $6.75 and last traded at $6.75, with a volume of 218236 shares traded. The stock had previously closed at $6.64.

FS Credit Opportunities Stock Performance

The stock’s 50-day moving average price is $6.55 and its two-hundred day moving average price is $6.39.

FS Credit Opportunities Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.67%.

Insider Activity at FS Credit Opportunities

In other news, CEO Michael C. Forman sold 102,860 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $6.11, for a total value of $628,474.60. Following the completion of the transaction, the chief executive officer now directly owns 13,437 shares of the company’s stock, valued at $82,100.07. This trade represents a 88.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FS Credit Opportunities

Hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers grew its position in shares of FS Credit Opportunities by 2,693.8% in the first quarter. Cetera Investment Advisers now owns 3,050,684 shares of the company’s stock valued at $18,091,000 after purchasing an additional 2,941,488 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of FS Credit Opportunities by 159.2% in the third quarter. Advisors Asset Management Inc. now owns 208,106 shares of the company’s stock valued at $1,321,000 after purchasing an additional 127,815 shares in the last quarter. Concorde Asset Management LLC boosted its stake in FS Credit Opportunities by 454.5% during the second quarter. Concorde Asset Management LLC now owns 98,089 shares of the company’s stock valued at $625,000 after buying an additional 80,400 shares during the period. Vista Finance LLC boosted its stake in FS Credit Opportunities by 865.7% during the second quarter. Vista Finance LLC now owns 1,609,868 shares of the company’s stock valued at $10,255,000 after buying an additional 1,443,169 shares during the period. Finally, Private Advisor Group LLC boosted its stake in FS Credit Opportunities by 165.9% during the second quarter. Private Advisor Group LLC now owns 770,255 shares of the company’s stock valued at $4,907,000 after buying an additional 480,537 shares during the period. 36.37% of the stock is currently owned by hedge funds and other institutional investors.

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.