OFS Credit (NASDAQ:OCCI) Trading Down 0.3% – What’s Next?

Shares of OFS Credit Company, Inc. (NASDAQ:OCCI) dropped 0.3% during trading on Wednesday . The stock traded as low as $3.33 and last traded at $3.34. Approximately 182,430 shares changed hands during trading, a decline of 40% from the average daily volume of 303,283 shares. The stock had previously closed at $3.35.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of OFS Credit from a “buy” rating to a “hold” rating in a report on Saturday, January 31st.

OFS Credit Stock Down 0.3%

The stock has a market cap of $97.16 million, a P/E ratio of -2.55 and a beta of 0.66. The firm’s fifty day moving average price is $3.11 and its 200-day moving average price is $3.92.

OFS Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a $0.05 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 18.0%. OFS Credit’s dividend payout ratio (DPR) is currently -90.08%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OCCI. NewEdge Advisors LLC grew its holdings in shares of OFS Credit by 21.6% in the first quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock worth $108,000 after purchasing an additional 3,138 shares during the last quarter. Jane Street Group LLC bought a new position in shares of OFS Credit in the first quarter worth approximately $385,000. Raymond James Financial Inc. bought a new position in shares of OFS Credit in the second quarter worth approximately $26,000. Osaic Holdings Inc. grew its holdings in shares of OFS Credit by 61.3% in the second quarter. Osaic Holdings Inc. now owns 10,783 shares of the company’s stock worth $67,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new position in shares of OFS Credit in the third quarter worth approximately $66,000. Institutional investors own 23.77% of the company’s stock.

About OFS Credit

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end, externally managed business development company that primarily invests in senior secured loans to U.S. middle-market companies. As a registered investment company under the Investment Company Act of 1940, OFS Credit seeks to generate current income and capital appreciation by providing first-lien and second-lien debt financing to privately held and sponsor-backed businesses. The company targets borrowers with stable cash flows and defensible market positions across diverse industries, including business services, healthcare, manufacturing and technology.

The company’s investment portfolio is weighted toward floating-rate loan instruments and subordinated debt, complemented by selective equity and equity-related securities.