Eagle Point Credit Company Inc. (NYSE:ECCC) Sees Significant Increase in Short Interest

Eagle Point Credit Company Inc. (NYSE:ECCC) was the target of a significant growth in short interest in February. As of February 27th, there was short interest totaling 15,116 shares, a growth of 204.3% from the February 12th total of 4,967 shares. Based on an average daily volume of 8,119 shares, the days-to-cover ratio is currently 1.9 days. Based on an average daily volume of 8,119 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Investors Weigh In On Eagle Point Credit

An institutional investor recently bought a new position in Eagle Point Credit stock. Karpus Management Inc. purchased a new stake in shares of Eagle Point Credit Company Inc. (NYSE:ECCC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 61,395 shares of the company’s stock, valued at approximately $1,523,000.

Eagle Point Credit Stock Performance

Shares of ECCC traded up $0.03 during mid-day trading on Thursday, reaching $23.93. The stock had a trading volume of 7,726 shares, compared to its average volume of 6,018. The business has a fifty day moving average of $24.46 and a 200 day moving average of $23.98. Eagle Point Credit has a 12 month low of $21.87 and a 12 month high of $25.00.

Eagle Point Credit Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be issued a $0.1354 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a c) annualized dividend and a yield of 6.8%.

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.