Eagle Point Credit (NYSE:ECCC) Stock Price Up 0% – Still a Buy?

Eagle Point Credit Company Inc. (NYSE:ECCC) shares were up 0% during mid-day trading on Friday . The company traded as high as $24.87 and last traded at $24.8410. Approximately 14,784 shares changed hands during mid-day trading, an increase of 160% from the average session volume of 5,685 shares. The stock had previously closed at $24.83.

Eagle Point Credit Stock Up 0.0%

The firm’s fifty day moving average is $24.84 and its 200-day moving average is $24.59.

Eagle Point Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be issued a $0.1354 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Thursday, September 10th.

Hedge Funds Weigh In On Eagle Point Credit

An institutional investor recently bought a new stake in Eagle Point Credit stock. Karpus Management Inc. bought a new position in Eagle Point Credit Company Inc. (NYSE:ECCC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.