OFS Credit Company, Inc. (NASDAQ:OCCI) Short Interest Down 31.8% in August

Posted by Clark Linder on Sep 16th, 2024

OFS Credit Company, Inc. (NASDAQ:OCCI – Get Free Report) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 48,600 shares, a decline of 31.8% from the August 15th total of 71,300 shares. Based on an average trading volume of 202,400 shares, the days-to-cover ratio is currently 0.2 days.

OFS Credit Stock Down 0.4 %

OCCI stock traded down $0.03 during midday trading on Monday, hitting $7.61. The company’s stock had a trading volume of 381,021 shares, compared to its average volume of 162,309. OFS Credit has a 12 month low of $5.47 and a 12 month high of $7.81. The firm has a market capitalization of $119.85 million, a price-to-earnings ratio of 13.12 and a beta of 1.33. The company has a 50 day moving average of $7.33 and a two-hundred day moving average of $7.27.

OFS Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 21st will be given a dividend of $0.115 per share. The ex-dividend date is Monday, October 21st. This represents a $1.38 dividend on an annualized basis and a dividend yield of 18.13%. OFS Credit’s dividend payout ratio is currently 196.55%.

Insider Activity at OFS Credit

In other OFS Credit news, major shareholder Eagle Point Credit Management sold 3,472 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $24.21, for a total value of $84,057.12. Following the completion of the transaction, the insider now directly owns 25,287 shares in the company, valued at approximately $612,198.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 13,785 shares of company stock worth $334,657. 2.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OCCI. Choreo LLC bought a new position in shares of OFS Credit during the 1st quarter valued at approximately $738,000. True North Advisors LLC purchased a new stake in OFS Credit during the 1st quarter valued at $80,000. B. Riley Wealth Advisors Inc. raised its holdings in OFS Credit by 51.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,386 shares of the company’s stock valued at $171,000 after buying an additional 7,651 shares during the period. Graypoint LLC increased its stake in OFS Credit by 6.0% in the first quarter. Graypoint LLC now owns 119,582 shares of the company’s stock worth $856,000 after purchasing an additional 6,806 shares during the period. Finally, International Assets Investment Management LLC increased its stake in OFS Credit by 29.3% in the first quarter. International Assets Investment Management LLC now owns 27,232 shares of the company’s stock worth $192,000 after purchasing an additional 6,172 shares during the period. 23.77% of the stock is currently owned by institutional investors.