FS Credit Opportunities (NYSE:FSCO) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of FS Credit Opportunities Corp. (NYSE:FSCO) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $5.13 and traded as high as $5.16. FS Credit Opportunities shares last traded at $5.1450, with a volume of 1,316,779 shares trading hands.

FS Credit Opportunities Price Performance

The stock’s 50-day simple moving average is $5.13 and its 200 day simple moving average is $5.15.

FS Credit Opportunities Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 23rd will be issued a dividend of $0.0594 per share. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $0.71 annualized dividend and a dividend yield of 13.9%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Rivernorth Capital Management LLC bought a new stake in shares of FS Credit Opportunities during the first quarter worth approximately $20,443,000. Arkadios Wealth Advisors lifted its holdings in FS Credit Opportunities by 3,144.4% in the first quarter. Arkadios Wealth Advisors now owns 3,563,531 shares of the company’s stock valued at $18,174,000 after buying an additional 3,453,693 shares during the period. Independent Financial Group LLC bought a new position in FS Credit Opportunities in the first quarter valued at approximately $3,997,000. Arlington Capital Management Inc. bought a new position in FS Credit Opportunities in the second quarter valued at approximately $1,110,000. Finally, Castleview Partners LLC boosted its stake in FS Credit Opportunities by 47.3% in the first quarter. Castleview Partners LLC now owns 431,855 shares of the company’s stock valued at $2,202,000 after acquiring an additional 138,677 shares during the last quarter. 36.37% of the stock is owned by institutional investors and hedge funds.

FS Credit Opportunities Company Profile

FS Credit Opportunities Corp. (NYSE: FSCO) is a publicly traded, non-diversified closed-end investment company. Its investment objective is to provide investors with current income and the potential for capital appreciation by investing across a broad range of credit-related assets.

The fund invests primarily in below-investment-grade and floating-rate instruments, including senior secured loans, high-yield bonds, private credit investments and structured credit securities. Its portfolio may include debt issued by companies in a variety of industries and may span both public and private markets.

FS Credit Opportunities Corp.