FS Credit Opportunities (NYSE:FSCO) Stock Price Up 0.9% – Still a Buy?

FS Credit Opportunities Corp. (NYSE:FSCO)’s stock price traded up 0.9% during trading on Wednesday . The stock traded as high as $5.25 and last traded at $5.2350. Approximately 862,497 shares traded hands during trading, a decline of 38% from the average daily volume of 1,397,089 shares. The stock had previously closed at $5.19.

FS Credit Opportunities Trading Up 0.9%

The stock’s fifty day simple moving average is $4.99 and its two-hundred day simple moving average is $5.05.

FS Credit Opportunities Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were given a dividend of $0.0594 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a c) annualized dividend and a yield of 13.6%. This is an increase from FS Credit Opportunities’s previous monthly dividend of $0.06.

Institutional Investors Weigh In On FS Credit Opportunities

A number of institutional investors have recently made changes to their positions in the stock. Focus Partners Wealth increased its stake in shares of FS Credit Opportunities by 5.0% in the first quarter. Focus Partners Wealth now owns 80,960 shares of the company’s stock valued at $571,000 after buying an additional 3,839 shares during the period. Invesco Ltd. lifted its stake in shares of FS Credit Opportunities by 40.5% in the second quarter. Invesco Ltd. now owns 309,787 shares of the company’s stock worth $2,249,000 after acquiring an additional 89,368 shares during the period. First Trust Advisors LP boosted its holdings in FS Credit Opportunities by 1.6% in the second quarter. First Trust Advisors LP now owns 411,026 shares of the company’s stock valued at $2,984,000 after acquiring an additional 6,603 shares during the last quarter. Baird Financial Group Inc. bought a new stake in FS Credit Opportunities in the second quarter valued at approximately $647,000. Finally, Raymond James Financial Inc. increased its position in FS Credit Opportunities by 6.8% during the 2nd quarter. Raymond James Financial Inc. now owns 528,526 shares of the company’s stock valued at $3,837,000 after purchasing an additional 33,478 shares during the period. 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.