OFS Credit Company, Inc. (NASDAQ:OCCI) Short Interest Down 46.3% in June

OFS Credit Company, Inc. (NASDAQ:OCCI) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 129,522 shares, a decrease of 46.3% from the June 15th total of 241,000 shares. Based on an average daily volume of 317,151 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the shares of the stock are sold short.

OFS Credit Stock Performance

Shares of OFS Credit stock traded up $0.01 during trading on Friday, reaching $2.33. 172,897 shares of the company’s stock were exchanged, compared to its average volume of 330,743. OFS Credit has a 1-year low of $2.32 and a 1-year high of $6.25. The company has a market cap of $68.58 million, a P/E ratio of -1.91 and a beta of 0.71. The firm’s 50-day moving average price is $2.98 and its 200 day moving average price is $3.41.

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

OFS Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 25.7%. OFS Credit’s dividend payout ratio is -95.90%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On OFS Credit

A number of institutional investors have recently added to or reduced their stakes in OCCI. Virtus Investment Advisers LLC boosted 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 valued at $2,039,000 after buying an additional 3,796 shares in the last quarter. Kestra Advisory Services LLC increased its holdings 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 buying an additional 10,000 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of OFS Credit during the first quarter worth $385,000. NewEdge Advisors LLC lifted its stake 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. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of OFS Credit during the 4th quarter valued at $62,000. 23.77% of the stock is currently owned by institutional investors and hedge funds.

OFS Credit Company Profile

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.