FS Specialty Lending Fund (NYSE:FSSL) Stock Short Interest Jumps 234.2%

FS Specialty Lending Fund (NYSE:FSSL) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totaling 57,661 shares, a growth of 234.2% from the September 15th total of 17,253 shares. Based on an average daily trading volume, of 251,824 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of FS Specialty Lending Fund

A number of hedge funds have recently made changes to their positions in the business. GHP Investment Advisors Inc. acquired a new stake in FS Specialty Lending Fund during the 1st quarter valued at $25,000. Main Street Group LTD bought a new position in FS Specialty Lending Fund during the first quarter worth $30,000. Raleigh Capital Management Inc. boosted its position in FS Specialty Lending Fund by 125.8% during the first quarter. Raleigh Capital Management Inc. now owns 3,460 shares of the company’s stock worth $43,000 after purchasing an additional 1,928 shares during the period. CoreCap Advisors LLC acquired a new position in shares of FS Specialty Lending Fund in the second quarter valued at $61,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of FS Specialty Lending Fund in the second quarter valued at $61,000.

Wall Street Analyst Weigh In

Separately, Compass Point began coverage on shares of FS Specialty Lending Fund in a report on Wednesday, September 23rd. They set a “buy” rating and a $15.75 target price on the stock. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $15.75.

FS Specialty Lending Fund Trading Down 0.7%

NYSE:FSSL traded down $0.08 during mid-day trading on Tuesday, hitting $11.36. The stock had a trading volume of 83,966 shares, compared to its average volume of 389,441. FS Specialty Lending Fund has a twelve month low of $10.75 and a twelve month high of $15.00. The company’s 50 day simple moving average is $11.63 and its 200 day simple moving average is $11.63.

FS Specialty Lending Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 23rd will be paid a $0.1495 dividend. The ex-dividend date is Wednesday, December 23rd. This represents a $1.79 annualized dividend and a yield of 15.8%.

FS Specialty Lending Fund (NYSE: FSSL) is a closed-end investment company that has elected to operate as a business development company. The fund seeks to generate current income and, to a lesser extent, capital appreciation by investing primarily in privately negotiated debt and other investments issued by middle-market companies.

Its portfolio may include senior secured loans, unitranche and subordinated debt, unsecured debt, and equity or equity-related securities. Through these investments, FS Specialty Lending Fund provides financing to privately held businesses that may use the proceeds for acquisitions, recapitalizations, refinancing, growth initiatives, or other corporate purposes.

The fund is externally managed by FS/KKR Advisor, LLC, an investment adviser affiliated with FS Investments and KKR.