Eagle Point Credit Company Inc. (ECC) To Go Ex-Dividend on January 12th

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Thursday, November 13th. Investors of record on Monday, January 12th will be paid a dividend of 0.14 per share by the investment management company on Friday, January 30th. This represents a c) annualized dividend and a yield of 28.5%. The ex-dividend date of this dividend is Monday, January 12th.

Eagle Point Credit has decreased its dividend by an average of 0.0%annually over the last three years. Eagle Point Credit has a payout ratio of 193.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Eagle Point Credit to earn $1.10 per share next year, which means the company may not be able to cover its $1.82 annual dividend with an expected future payout ratio of 165.5%.

Eagle Point Credit Stock Up 1.8%

NYSE ECC opened at $5.91 on Friday. The stock’s 50-day simple moving average is $5.91 and its two-hundred day simple moving average is $6.59. Eagle Point Credit has a twelve month low of $5.40 and a twelve month high of $9.12. The company has a market capitalization of $745.98 million, a price-to-earnings ratio of 31.08 and a beta of 0.27.

Institutional Trading of Eagle Point Credit

Institutional investors have recently made changes to their positions in the stock. Arete Wealth Advisors LLC increased its stake in shares of Eagle Point Credit by 15.9% in the first quarter. Arete Wealth Advisors LLC now owns 18,216 shares of the investment management company’s stock worth $150,000 after buying an additional 2,495 shares during the period. Jane Street Group LLC purchased a new stake in Eagle Point Credit during the 1st quarter valued at $134,000. Fermata Advisors LLC bought a new stake in Eagle Point Credit in the 2nd quarter worth $83,000. Worth Asset Management LLC bought a new stake in Eagle Point Credit in the 2nd quarter worth $82,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of Eagle Point Credit in the second quarter valued at about $35,000. Hedge funds and other institutional investors own 19.50% of the company’s stock.

About Eagle Point Credit

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.