Short Interest in OFS Credit Company, Inc. (NASDAQ:OCCI) Rises By 124.2%

OFS Credit Company, Inc. (NASDAQ:OCCI) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totaling 371,889 shares, a growth of 124.2% from the April 30th total of 165,901 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 358,701 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On OFS Credit

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in OFS Credit during the second quarter valued at about $26,000. TIAA Trust National Association bought a new stake in OFS Credit during the third quarter valued at about $54,000. Kestra Private Wealth Services LLC purchased a new position in shares of OFS Credit during the third quarter valued at about $56,000. One Capital Management LLC purchased a new position in shares of OFS Credit during the third quarter valued at about $58,000. Finally, Virtu Financial LLC purchased a new position in shares of OFS Credit during the third quarter valued at about $58,000. 23.77% of the stock is owned by institutional investors.

OFS Credit Stock Up 1.2%

NASDAQ:OCCI traded up $0.04 on Friday, reaching $3.35. 170,637 shares of the company’s stock traded hands, compared to its average volume of 283,825. The stock has a 50-day simple moving average of $3.13 and a 200-day simple moving average of $3.91. The firm has a market cap of $97.45 million, a PE ratio of -2.56 and a beta of 0.66. OFS Credit has a 12 month low of $2.62 and a 12 month high of $6.43.

OFS Credit Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 17.9%. OFS Credit’s dividend payout ratio (DPR) is currently -90.08%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered OFS Credit from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st.

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.