OFS Credit Company, Inc. (NASDAQ:OCCI) Shares Shorted: Short Interest Down 68.4% in October

OFS Credit Company, Inc. (NASDAQ:OCCI) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 44,118 shares, a decrease of 68.4% from the September 30th total of 139,644 shares. Based on an average trading volume of 196,251 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Solutions Group LLC purchased a new position in OFS Credit during the second quarter worth about $49,000. Two Sigma Securities LLC purchased a new position in shares of OFS Credit during the second quarter valued at approximately $40,000. Finally, Kestra Advisory Services LLC increased its stake in shares of OFS Credit by 12.1% during the 1st quarter. Kestra Advisory Services LLC now owns 92,856 shares of the company’s stock valued at $268,000 after acquiring an additional 10,000 shares during the last quarter. 23.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of OFS Credit from a “hold” rating to a “sell” rating in a report on Saturday, September 26th.

OFS Credit Price Performance

OCCI stock traded down $0.07 during mid-day trading on Friday, reaching $1.54. 310,410 shares of the company’s stock were exchanged, compared to its average volume of 293,459. The stock’s 50 day moving average is $2.22 and its 200 day moving average is $2.93. OFS Credit has a 12-month low of $1.40 and a 12-month high of $5.15. The company has a market cap of $45.38 million, a price-to-earnings ratio of -0.88 and a beta of 0.76.

OFS Credit (NASDAQ:OCCI) last announced its earnings results on Thursday, September 17th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $8.65 million for the quarter, compared to analyst estimates of $9.42 million.

OFS Credit Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be issued a $0.05 dividend. The ex-dividend date is Friday, January 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 38.8%. OFS Credit’s dividend payout ratio is presently -49.14%.

About OFS Credit

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end management investment company focused on generating current income and, to a lesser extent, capital appreciation. The company is externally managed by OFS Capital Management, LLC.

OFS Credit primarily invests in collateralized loan obligation (CLO) securities, including equity and subordinated debt tranches. CLOs are structured investment vehicles backed mainly by portfolios of senior secured corporate loans. Through these investments, OFS Credit seeks exposure to income generated by corporate lending markets while managing a portfolio of CLO-related assets.

The company has operated as a registered investment company and has elected to be treated as a regulated investment company for U.S.