Short Interest in OFS Credit Company, Inc. (NASDAQ:OCCI) Increases By 55.2%

OFS Credit Company, Inc. (NASDAQ:OCCI) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 221,505 shares, a growth of 55.2% from the July 15th total of 142,677 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 278,350 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded OFS Credit from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st.

OFS Credit Trading Up 0.8%

Shares of NASDAQ OCCI opened at $2.49 on Tuesday. OFS Credit has a 1-year low of $2.15 and a 1-year high of $6.14. The company has a 50-day moving average of $2.56 and a two-hundred day moving average of $3.03. The company has a market cap of $73.14 million, a PE ratio of -2.04 and a beta of 0.72.

OFS Credit (NASDAQ:OCCI) last released its quarterly earnings results on Tuesday, June 9th. The company reported $0.19 EPS for the quarter. The company had revenue of $9.20 million for the quarter.

OFS Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be given a $0.05 dividend. This represents a c) dividend on an annualized basis and a yield of 24.1%. The ex-dividend date is Thursday, October 15th. OFS Credit’s dividend payout ratio (DPR) is presently -90.16%.

Institutional Investors Weigh In On OFS Credit

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC raised its position in shares of OFS Credit by 12.1% during the first quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock worth $268,000 after acquiring an additional 10,000 shares during the last quarter. Virtus Investment Advisers LLC increased its position in OFS Credit by 0.9% in the fourth quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company’s stock worth $2,039,000 after purchasing an additional 3,796 shares during the period. Commonwealth Equity Services LLC acquired a new stake in OFS Credit in the fourth quarter worth about $62,000. StoneX Group Inc. acquired a new position in OFS Credit during the 4th quarter valued at about $55,000. Finally, Kestra Private Wealth Services LLC bought a new position in shares of OFS Credit in the 3rd quarter valued at about $56,000. 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.