Recently FS KKR Capital Corp. II, publicly-traded BDC, was listed on the New York Stock Exchange under ticker symbol FSKR. Unfortunately, FSKR stock is down 9% from the high.
There are currently several lawsuits and investigations by investors. Haselkorn & Thibaut (InvestmentFraudLawyers.com), a national investment fraud law firm, and has set up an investor hotline at 888-628-5590.
FS KKR Capital Corp II was formed by a merger of four non-traded Business Development Company (BDC)s including FS Investment Corporation II, Corporate Capital Trust II, FS Investment Corporation III, and FS Investment Corporation IV. A business development company is a business that typically invests in small to medium-sized companies or distressed companies.
FS/KKR (Formerly Franklin Square) serves as the investment advisor to both FS KKR Capital Corp. (NYSE: FSK) and FS KKR Capital Corp. II (NYSE: FSKR) which have about $16 billion in assets.
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On June 10, 2020, FS KKR Capital Corp. II completed the issuance of approximately 1.5 million common shares to its shareholders. Each of the four common shares issued and outstanding will be combined into one share, reducing the number of shares outstanding from approximately 691.2 million to approximately 172.9 million, according to the filing.
The company’s net asset value per share, adjusted for the reverse stock split, would be $24.68, according to the filing. As previously announced, the company’s FSKR Board of Directors approved a share buyback program at the end of May 2020. Under the program, the company will be able to repurchase up to $100 million in common shares on the open market.
It also invested $100 million in a $350 million investment vehicle that can be invested from time to time, according to the documents.
Is FS KKR Capital Corp. II (FSKR Stock) A Buy?
Some investors may be tempted to by FSKR stock because it trading lower or possible dividend, however, it has been our experience that stocks similar to FSKR perform poorly long term and are higher risk than other stocks.
As we mentioned above, there are already pending lawsuits from investors that lost a substantial amount of money with FSKR stock. If you own FSKR, please call Haselkorn and Thibaut at for free consultation on how to recover your losses.
If you are looking for a dividend stock, consider a blue-chip company or one of our recent stock listed to watch. Always consider the risk of any investment and “past performance does not guarantee future results.”
FSKR Stock Technical Indicators – SELL
|Exponential Moving Average (5)||13.04||Sell|
|Simple Moving Average (5)||13.00||Buy|
|Exponential Moving Average (10)||13.16||Sell|
|Simple Moving Average (10)||13.08||Sell|