Short Interest in Eagle Point Credit Company Inc. (NYSE:ECCC) Rises By 77.8%

Eagle Point Credit Company Inc. (NYSE:ECCC) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 4,519 shares, an increase of 77.8% from the June 15th total of 2,541 shares. Based on an average daily volume of 2,971 shares, the days-to-cover ratio is presently 1.5 days.

Eagle Point Credit Price Performance

NYSE ECCC remained flat at $24.90 on Friday. 2,568 shares of the company’s stock traded hands, compared to its average volume of 5,879. The business has a 50-day moving average price of $24.72 and a two-hundred day moving average price of $24.56. Eagle Point Credit has a 52 week low of $22.94 and a 52 week high of $25.10.

Eagle Point Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.1354 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%.

Institutional Trading of Eagle Point Credit

A hedge fund recently bought a new position in Eagle Point Credit stock. Karpus Management Inc. purchased a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECCC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 61,395 shares of the company’s stock, valued at approximately $1,523,000.

Eagle Point Credit Company Profile

Eagle Point Credit Company (NYSE: ECCC) is a closed-end management investment company that specializes in structured finance assets. Since its formation in January 2018, the company has pursued a strategy aimed at generating current income and capital appreciation by investing in a diversified portfolio of collateralized loan obligations (CLOs) and other structured credit instruments. Eagle Point Credit’s investment mandate encompasses both equity and debt tranches of CLOs, as well as select specialty finance exposures, allowing it to capture opportunities across the capital structure.

The firm’s portfolio is predominantly concentrated in U.S.-domiciled collateral vehicles, with the flexibility to allocate to European and other developed-market credits when attractive risk-adjusted returns are available.