Eagle Point Credit Company Inc. (NYSE:ECCC) Sees Large Growth in Short Interest

Eagle Point Credit Company Inc. (NYSE:ECCC) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 15,116 shares, an increase of 204.3% from the February 12th total of 4,967 shares. Based on an average daily volume of 8,119 shares, the short-interest ratio is currently 1.9 days. Based on an average daily volume of 8,119 shares, the short-interest ratio is currently 1.9 days.

Institutional Investors Weigh In On Eagle Point Credit

An institutional investor recently bought a new position in Eagle Point Credit stock. Karpus Management Inc. bought a new position in 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 (SEC). The firm bought 61,395 shares of the company’s stock, valued at approximately $1,523,000.

Eagle Point Credit Trading Down 0.1%

Shares of NYSE ECCC traded down $0.03 during mid-day trading on Wednesday, reaching $23.89. 2,289 shares of the company’s stock were exchanged, compared to its average volume of 5,982. Eagle Point Credit has a 52 week low of $21.87 and a 52 week high of $25.00. The firm has a 50-day moving average price of $24.49 and a two-hundred day moving average price of $23.98.

Eagle Point Credit Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be paid a $0.1354 dividend. The ex-dividend date is Wednesday, June 10th. This represents a c) annualized dividend and a yield of 6.8%.

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.