Eagle Point Credit Company Inc. (NYSE:ECCC) Sees Significant Decrease in Short Interest

Eagle Point Credit Company Inc. (NYSE:ECCC) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 2,541 shares, a decline of 62.5% from the May 31st total of 6,773 shares. Based on an average daily trading volume, of 5,081 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of Eagle Point Credit

A hedge fund recently bought a new stake in Eagle Point Credit stock. Karpus Management Inc. acquired a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECCC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 61,395 shares of the company’s stock, valued at approximately $1,523,000.

Eagle Point Credit Stock Performance

Shares of Eagle Point Credit stock opened at $25.03 on Friday. The company’s fifty day simple moving average is $24.61 and its 200-day simple moving average is $24.53. Eagle Point Credit has a 1 year low of $22.94 and a 1 year high of $25.10.

Eagle Point Credit Dividend Announcement

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

About Eagle Point Credit

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.