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

OFS Credit Company, Inc. (NASDAQ:OCCI) was the target of a large growth in short interest in 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. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily volume of 278,350 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Trading of OFS Credit

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in OFS Credit during the 2nd quarter worth about $26,000. StoneX Group Inc. purchased a new position in OFS Credit in the 4th quarter valued at about $55,000. Kestra Private Wealth Services LLC purchased a new position in OFS Credit in the 3rd quarter valued at about $56,000. Virtu Financial LLC acquired a new stake in shares of OFS Credit during the 3rd quarter worth about $58,000. Finally, One Capital Management LLC acquired a new stake in shares of OFS Credit during the 3rd quarter worth about $58,000. 23.77% of the stock is currently owned by hedge funds and other institutional investors.

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 report on Sunday, June 21st.

OFS Credit Price Performance

OCCI stock opened at $2.50 on Wednesday. The company’s 50 day simple moving average is $2.54 and its 200-day simple moving average is $3.02. The firm has a market capitalization of $73.42 million, a PE ratio of -2.05 and a beta of 0.72. OFS Credit has a 12 month low of $2.15 and a 12 month high of $6.14.

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

OFS Credit Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be issued a $0.05 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 24.0%. The ex-dividend date of this dividend is Thursday, October 15th. OFS Credit’s payout ratio is -90.98%.

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.