FS Specialty Lending Fund (NYSE:FSSL) Stock Short Interest Rises 234.2%

FS Specialty Lending Fund (NYSE:FSSL) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 57,661 shares, an increase of 234.2% from the September 15th total of 17,253 shares. Based on an average daily volume of 251,824 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of FS Specialty Lending Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. BIP Wealth LLC raised its stake in shares of FS Specialty Lending Fund by 4.5% during the first quarter. BIP Wealth LLC now owns 23,283 shares of the company’s stock valued at $291,000 after acquiring an additional 999 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in FS Specialty Lending Fund by 9.1% in the first quarter. Janney Montgomery Scott LLC now owns 12,283 shares of the company’s stock worth $154,000 after purchasing an additional 1,020 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in FS Specialty Lending Fund by 125.8% in the first quarter. Raleigh Capital Management Inc. now owns 3,460 shares of the company’s stock worth $43,000 after purchasing an additional 1,928 shares in the last quarter. GHP Investment Advisors Inc. bought a new position in FS Specialty Lending Fund in the first quarter worth approximately $25,000. Finally, Main Street Group LTD bought a new position in FS Specialty Lending Fund in the first quarter worth approximately $30,000.

Analyst Upgrades and Downgrades

Separately, Compass Point initiated coverage on FS Specialty Lending Fund in a research report on Wednesday, September 23rd. They set a “buy” rating and a $15.75 target price for the company. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $15.75.

FS Specialty Lending Fund Trading Down 0.6%

FSSL traded down $0.07 on Friday, reaching $11.59. 204,531 shares of the company traded hands, compared to its average volume of 391,787. FS Specialty Lending Fund has a one year low of $10.75 and a one year high of $15.00. The firm has a fifty day simple moving average of $11.63 and a two-hundred day simple moving average of $11.65.

FS Specialty Lending Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd were given a dividend of $0.1495 per share. The ex-dividend date of this dividend was Wednesday, September 23rd. This represents a $1.79 dividend on an annualized basis and a dividend yield of 15.5%.

FS Specialty Lending Fund (NYSE: FSSL) is a closed-end investment company that has elected to operate as a business development company. The fund seeks to generate current income and, to a lesser extent, capital appreciation by investing primarily in privately negotiated debt and other investments issued by middle-market companies.

Its portfolio may include senior secured loans, unitranche and subordinated debt, unsecured debt, and equity or equity-related securities. Through these investments, FS Specialty Lending Fund provides financing to privately held businesses that may use the proceeds for acquisitions, recapitalizations, refinancing, growth initiatives, or other corporate purposes.

The fund is externally managed by FS/KKR Advisor, LLC, an investment adviser affiliated with FS Investments and KKR.