Short Interest in Eagle Point Credit Company Inc. (NYSE:ECCC) Drops By 28.4%

Eagle Point Credit Company Inc. (NYSE:ECCC) was the recipient of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 4,967 shares, a decrease of 28.4% from the January 29th total of 6,938 shares. Based on an average trading volume of 4,117 shares, the days-to-cover ratio is currently 1.2 days. Based on an average trading volume of 4,117 shares, the days-to-cover ratio is currently 1.2 days.

Eagle Point Credit Stock Performance

Shares of NYSE:ECCC opened at $24.78 on Friday. Eagle Point Credit has a 12-month low of $21.87 and a 12-month high of $25.00. The business has a 50 day moving average of $24.57 and a 200-day moving average of $23.93.

Eagle Point Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be issued a $0.1354 dividend. This represents a c) dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Wednesday, June 10th.

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 stake in Eagle Point Credit Company Inc. (NYSE:ECCC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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.