Eagle Point Credit Company Inc. (NYSE:ECC) Short Interest Update

Eagle Point Credit Company Inc. (NYSE:ECC) was the recipient of a significant growth in short interest in February. As of February 13th, there was short interest totaling 12,393,477 shares, a growth of 38.4% from the January 29th total of 8,956,209 shares. Based on an average daily trading volume, of 3,397,498 shares, the short-interest ratio is presently 3.6 days. Currently, 9.8% of the shares of the company are sold short. Currently, 9.8% of the shares of the company are sold short. Based on an average daily trading volume, of 3,397,498 shares, the short-interest ratio is presently 3.6 days.

Eagle Point Credit Stock Up 2.0%

NYSE:ECC traded up $0.08 during midday trading on Monday, reaching $4.11. The stock had a trading volume of 4,260,161 shares, compared to its average volume of 2,708,900. The stock has a market cap of $519.22 million, a P/E ratio of 21.63 and a beta of 0.28. Eagle Point Credit has a 12-month low of $3.85 and a 12-month high of $8.86. The firm has a fifty day simple moving average of $5.25 and a two-hundred day simple moving average of $6.03.

Eagle Point Credit Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a c) annualized dividend and a dividend yield of 17.5%. Eagle Point Credit’s dividend payout ratio is presently 884.21%.

Institutional Trading of Eagle Point Credit

Institutional investors and hedge funds have recently made changes to their positions in the company. Fermata Advisors LLC grew its stake in Eagle Point Credit by 15.7% during the 3rd quarter. Fermata Advisors LLC now owns 12,545 shares of the investment management company’s stock worth $83,000 after buying an additional 1,706 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Eagle Point Credit by 21.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock worth $66,000 after purchasing an additional 1,750 shares during the last quarter. TCTC Holdings LLC increased its stake in shares of Eagle Point Credit by 45.5% in the fourth quarter. TCTC Holdings LLC now owns 8,000 shares of the investment management company’s stock valued at $46,000 after purchasing an additional 2,500 shares during the period. N.E.W. Advisory Services LLC raised its holdings in shares of Eagle Point Credit by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 5,300 shares of the investment management company’s stock valued at $31,000 after buying an additional 2,650 shares during the last quarter. Finally, Compound Planning Inc. raised its holdings in shares of Eagle Point Credit by 19.5% during the fourth quarter. Compound Planning Inc. now owns 19,220 shares of the investment management company’s stock valued at $111,000 after buying an additional 3,135 shares during the last quarter. 19.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on ECC shares. Zacks Research upgraded shares of Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research 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 report on Monday. B. Riley Financial lowered their price target on 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. Finally, Credit Suisse Group set a $5.00 price objective on Eagle Point Credit in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.13.

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.