Eagle Point Credit (NYSE:ECCC) Stock Price Up 1% – Should You Buy?

Eagle Point Credit Company Inc. (NYSE:ECCC)’s stock price was up 1% on Friday. The stock traded as high as $23.35 and last traded at $23.5350. Approximately 285 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 4,920 shares. The stock had previously closed at $23.30.

Eagle Point Credit Price Performance

The stock has a fifty day simple moving average of $24.85 and a 200-day simple moving average of $24.74.

Eagle Point Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 11th will be paid a $0.1354 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.63 dividend on an annualized basis and a yield of 6.9%.

About Eagle Point Credit

Eagle Point Credit Company Inc is a closed-end management investment company focused primarily on investments in collateralized loan obligations (CLOs). CLOs are structured investment vehicles backed largely by portfolios of senior secured loans made to companies with below-investment-grade credit ratings.

The company seeks to generate current income and, to a lesser extent, capital appreciation through investments in CLO equity and debt tranches. Its portfolio may also include other credit-related instruments, including corporate debt securities and loans.