Short Interest in Eagle Point Credit Company Inc. (NYSE:ECCC) Declines By 90.0%

Eagle Point Credit Company Inc. (NYSE:ECCC) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 958 shares, a drop of 90.0% from the March 31st total of 9,612 shares. Based on an average daily volume of 4,505 shares, the days-to-cover ratio is currently 0.2 days.

Eagle Point Credit Price Performance

Eagle Point Credit stock traded down $0.06 during trading hours on Friday, hitting $24.79. The stock had a trading volume of 2,348 shares, compared to its average volume of 5,393. Eagle Point Credit has a one year low of $21.90 and a one year high of $25.00. The business’s 50 day simple moving average is $24.44 and its 200-day simple moving average is $24.19.

Eagle Point Credit Dividend Announcement

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

Hedge Funds Weigh In On 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) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 61,395 shares of the company’s stock, valued at approximately $1,523,000.

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.