Private Advisor Group buys $20.4 Million stake in FS Investment Corporation (FSIC)

FS Investment Corporation (FSIC) : Private Advisor Group scooped up 163,560 additional shares in FS Investment Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 2,249,914 shares of FS Investment Corporation which is valued at $20.4 Million.FS Investment Corporation makes up approximately 0.99% of Private Advisor Group’s portfolio.

Other Hedge Funds, Including , Confluence Investment Management boosted its stake in FSIC in the latest quarter, The investment management firm added 351 additional shares and now holds a total of 407,917 shares of FS Investment Corporation which is valued at $3.7 Million. FS Investment Corporation makes up approx 0.11% of Confluence Investment Management’s portfolio. Capital Fund Management S.a. added FSIC to its portfolio by purchasing 49,600 company shares during the most recent quarter which is valued at $451,856. FS Investment Corporation makes up approx 0.01% of Capital Fund Management S.a.’s portfolio.Canal Capital Management reduced its stake in FSIC by selling 241,791 shares or 33.98% in the most recent quarter. The Hedge Fund company now holds 469,794 shares of FSIC which is valued at $4.4 Million. FS Investment Corporation makes up approx 4.35% of Canal Capital Management’s portfolio.

FS Investment Corporation opened for trading at $8.79 and hit $8.93 on the upside on Wednesday, eventually ending the session at $8.88, with a gain of 1.14% or 0.1 points. The heightened volatility saw the trading volume jump to 8,69,459 shares. Company has a market cap of $2,162 M.

FS Investment Corporation is a non-diversified closed-end management investment company. The Company’s investment objectives are to generate current income and a long-term capital appreciation. Its portfolio consists of investments in senior secured loans and second lien secured loans of private middle market United States companies and subordinated loans of private United States companies. The Company focuses on purchasing interests in loans or making other debt investments including investments in senior secured bonds through secondary market transactions in the over-the-counter market or directly from companies it is focused on as primary market or directly originated investments. It also focuses on purchasing interests in the form of common or preferred equity or the equity-related securities. Its investment activities are managed by FB Income Advisor LLC. FB Advisor has engaged GSO/Blackstone Debt Funds Management LLC (GDFM) to act as its investment sub-adviser.

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