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

FS Specialty Lending Fund (NYSE:FSSL) saw a significant increase in short interest during 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 trading volume, of 251,824 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GHP Investment Advisors Inc. purchased a new stake in shares of FS Specialty Lending Fund in the first quarter worth approximately $25,000. Main Street Group LTD bought a new stake in shares of FS Specialty Lending Fund during the 1st quarter worth approximately $30,000. Raleigh Capital Management Inc. boosted its holdings in FS Specialty Lending Fund by 125.8% during the 1st quarter. Raleigh Capital Management Inc. now owns 3,460 shares of the company’s stock valued at $43,000 after acquiring an additional 1,928 shares during the period. CoreCap Advisors LLC purchased a new position in FS Specialty Lending Fund during the 2nd quarter valued at $61,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in FS Specialty Lending Fund during the 2nd quarter valued at $61,000.

FS Specialty Lending Fund Stock Performance

NYSE:FSSL traded down $0.07 during mid-day trading on Friday, hitting $11.59. 204,531 shares of the stock traded hands, compared to its average volume of 391,787. FS Specialty Lending Fund has a 52 week low of $10.75 and a 52 week high of $15.00. The firm’s 50 day moving average is $11.63 and its two-hundred day moving average is $11.65.

FS Specialty Lending Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd were paid a $0.1495 dividend. The ex-dividend date of this dividend was Wednesday, September 23rd. This represents a $1.79 annualized dividend and a yield of 15.5%.

Wall Street Analysts Forecast Growth

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

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.