Blackstone/GSO Strategic Credit Fund (NYSE:BGB) Short Interest Up 50.8% in May
Blackstone/GSO Strategic Credit Fund (NYSE: BGB – Get Rating) benefited from a sharp rise in short-term interest rates in May. As of May 15, there was short interest totaling 207,400 shares, an increase of 50.8% from the April 30 total of 137,500 shares. Based on an average daily volume of 144,200 shares, the short interest ratio is currently 1.4 days.
Shares of NYSE:BGB traded down $0.16 on Friday, hitting $11.89. The company’s shares had a trading volume of 85,555 shares, compared to an average volume of 157,544. The Blackstone/GSO Strategic Credit Fund has a 52-week low of $11.47 and a 52-week high of 14 .14$. The stock’s 50-day moving average is $12.39 and its two-hundred-day moving average is $13.08.
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 31. Shareholders of record on Monday, May 23 will receive a dividend of $0.065 per share. This represents an annualized dividend of $0.78 and a yield of 6.56%. The ex-dividend date is Friday, May 20.
A number of institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management LP increased its holdings of Blackstone/GSO Strategic Credit Fund shares by 55.2% in the third quarter. Rockefeller Capital Management LP now owns 7,759 shares of the company valued at $107,000 after purchasing an additional 2,759 shares during the period. Beacon Pointe Advisors LLC acquired a new position in Blackstone/GSO Strategic Credit Fund in Q3, valued at $139,000. Wintrust Investments LLC bought a new position in Blackstone/GSO Strategic Credit Fund during Q4 for a value of $163,000. HighTower Advisors LLC acquired a new position in Blackstone/GSO Strategic Credit Fund during Q4 for a value of $169,000. Finally, Round Rock Advisors LLC acquired a new stake in shares of Blackstone/GSO Strategic Credit Fund in Q4 for a value of $185,000.
Blackstone/GSO Strategic Credit Fund Company Profile (Get an assessment)
Blackstone/GSO Strategic Credit Fund is a closed-end bond mutual fund launched and managed by GSO/Blackstone Debt Funds Management LLC. It invests in US bond markets. The fund seeks to invest in shares of companies operating in diversified sectors. It invests primarily in loans and other fixed income instruments, including senior and junior secured loans and high yield corporate bonds of varying maturities.
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