FS Credit Opportunities (NYSE:FSCO) Sets New 52-Week High – Here’s Why

FS Credit Opportunities Corp. (NYSE:FSCO) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $7.23 and last traded at $7.21, with a volume of 373760 shares traded. The stock had previously closed at $7.17.

FS Credit Opportunities Stock Performance

The company has a 50 day moving average of $6.83 and a 200-day moving average of $6.83.

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 paid a dividend of $0.0645 per share. This represents a $0.77 annualized dividend and a yield of 10.74%. The ex-dividend date of this dividend was Thursday, May 22nd.

Hedge Funds Weigh In On FS Credit Opportunities

Several large investors have recently added to or reduced their stakes in FSCO. Blackstone Inc. acquired a new stake in FS Credit Opportunities in the fourth quarter worth $11,341,000. Invesco Ltd. acquired a new stake in FS Credit Opportunities in the fourth quarter worth $1,363,000. Sanctuary Advisors LLC increased its position in FS Credit Opportunities by 87.4% in the fourth quarter. Sanctuary Advisors LLC now owns 154,687 shares of the company’s stock worth $1,063,000 after buying an additional 72,144 shares during the period. Noble Wealth Management PBC acquired a new stake in FS Credit Opportunities in the fourth quarter worth $3,255,000. Finally, Modern Wealth Management LLC acquired a new stake in FS Credit Opportunities in the fourth quarter worth $1,220,000. 36.37% of the stock is currently owned by 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.