Short Interest in OFS Credit Company, Inc. (NASDAQ:OCCI) Rises By 124.2%
by Scott Moore · The Cerbat GemOFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totaling 371,889 shares, an increase of 124.2% from the April 30th total of 165,901 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily volume of 358,701 shares, the short-interest ratio is presently 1.0 days.
OFS Credit Trading Up 1.2%
Shares of NASDAQ:OCCI traded up $0.04 during trading on Friday, reaching $3.35. The company’s stock had a trading volume of 170,637 shares, compared to its average volume of 283,825. OFS Credit has a 12 month low of $2.62 and a 12 month high of $6.43. The firm’s 50 day simple moving average is $3.13 and its two-hundred day simple moving average is $3.91. The stock has a market capitalization of $97.45 million, a PE ratio of -2.56 and a beta of 0.66.
OFS Credit Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 17.9%. OFS Credit’s dividend payout ratio (DPR) is presently -90.08%.
Analyst Ratings Changes
Separately, Wall Street Zen lowered OFS Credit from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st.
Get Our Latest Stock Report on OCCI
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in OCCI. NewEdge Advisors LLC lifted its holdings in shares of OFS Credit by 21.6% in the 1st quarter. NewEdge Advisors LLC now owns 17,696 shares of the company’s stock valued at $108,000 after acquiring an additional 3,138 shares during the last quarter. Jane Street Group LLC bought a new position in shares of OFS Credit in the 1st quarter valued at about $385,000. Raymond James Financial Inc. bought a new position in shares of OFS Credit in the 2nd quarter valued at about $26,000. Osaic Holdings Inc. lifted its holdings in shares of OFS Credit by 61.3% in the 2nd quarter. Osaic Holdings Inc. now owns 10,783 shares of the company’s stock valued at $67,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new stake in OFS Credit in the third quarter worth about $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.