Short Interest in Eagle Point Credit Company Inc. (NYSE:ECC) Increases By 38.4%

Eagle Point Credit Company Inc. (NYSE:ECC) saw a large increase in short interest in February. As of February 13th, there was short interest totaling 12,393,477 shares, an increase of 38.4% from the January 29th total of 8,956,209 shares. Based on an average trading volume of 3,397,498 shares, the days-to-cover ratio is currently 3.6 days. Approximately 9.8% of the shares of the stock are short sold. Approximately 9.8% of the shares of the stock are short sold. Based on an average trading volume of 3,397,498 shares, the days-to-cover ratio is currently 3.6 days.

Institutional Trading of Eagle Point Credit

Institutional investors have recently bought and sold shares of the company. GPS Wealth Strategies Group LLC acquired a new stake in Eagle Point Credit during the 2nd quarter worth about $25,000. Geneos Wealth Management Inc. bought a new stake in shares of Eagle Point Credit during the 2nd quarter valued at about $33,000. Ameriflex Group Inc. acquired a new stake in Eagle Point Credit during the third quarter worth approximately $33,000. N.E.W. Advisory Services LLC increased its holdings in Eagle Point Credit by 100.0% in the fourth quarter. N.E.W. Advisory Services LLC now owns 5,300 shares of the investment management company’s stock worth $31,000 after purchasing an additional 2,650 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in Eagle Point Credit in the third quarter valued at approximately $37,000. Institutional investors own 19.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ECC shares. Credit Suisse Group set a $5.00 target price on Eagle Point Credit in a research report on Wednesday, February 18th. Zacks Research upgraded shares of Eagle Point Credit from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. LADENBURG THALM/SH SH downgraded shares of Eagle Point Credit from a “buy” rating to a “neutral” rating in a research report on Monday. Finally, B. Riley Financial decreased their price target on shares of Eagle Point Credit from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.13.

Eagle Point Credit Trading Down 0.5%

ECC stock traded down $0.02 during trading on Wednesday, hitting $4.03. The company had a trading volume of 353,713 shares, compared to its average volume of 2,632,225. The stock has a market cap of $509.11 million, a PE ratio of 21.21 and a beta of 0.32. The business has a 50-day moving average of $5.18 and a 200-day moving average of $5.99. Eagle Point Credit has a one year low of $3.85 and a one year high of $8.86.

Eagle Point Credit Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, June 10th. This represents a c) annualized dividend and a dividend yield of 17.9%. Eagle Point Credit’s dividend payout ratio is 884.21%.

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.