BGX Stock Summary and Trading Ideas (Blackstone/Gso Ls Credit | NYSE:BGX)

Blackstone / GSO Long Short Credit Income Fund (“BGX” or herein, the “Fund”) is a closed-end fund that trades on the New York Stock Exchange under the symbol “BGX”. BGX’s primary investment objective is to provide current income, with a secondary objective of capital appreciation. BGX will take long positions in investments which we believe offer the potential for attractive returns under various economic and interest rate environments. BGX may also take short positions in investments which we believe will under-perform due to a greater sensitivity to earnings growth of the issuer, default risk or the general level and direction of interest rates. BGX must hold no less than 70% of its Managed Assets in first-and second-lien secured floating rate loans (“Secured Loans”), but may also invest in unsecured loans and high yield bonds. BGX may use financial leverage and derivatives in employing its long strategy for up to a total of 150% of net assets.

Blackstone/Gso Ls Credit trades on the NYSE stock market under the symbol BGX.

As of April 26, 2024, BGX stock price climbed to $12.15 with 42,350 million shares trading.

BGX has a beta of 0.34, meaning it tends to be less sensitive to market movements. BGX has a correlation of 0.19 to the broad based SPY ETF.

BGX has a market cap of $154.41 million. This is considered a Micro Cap stock.

In the last 3 years, BGX stock traded as high as $15.59 and as low as $10.58.

BGX stock has underperformed the market in the last year with a return of +22.6%, while SPY returned +27.4%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in BGX shares. However, BGX has outperformed the market in the last 3 month and 2 week periods, returning +5.1% and +0.1%, while SPY returned +4.6% and -0.5%, respectively. This indicates BGX has been having a stronger performance recently.

BGX support price is $12.03 and resistance is $12.19 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BGX stock will trade within this expected range on the day.