Eagle Point Credit Company Inc. (NYSE:ECCC – Get Free Report) announced a monthly dividend on Tuesday, May 12th. Investors of record on Monday, July 13th will be paid a dividend of 0.1354 per share on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Monday, July 13th.
Eagle Point Credit Stock Performance
Eagle Point Credit stock traded up $0.18 during midday trading on Wednesday, hitting $24.13. 7,804 shares of the company were exchanged, compared to its average volume of 6,730. The company’s fifty day moving average price is $24.38 and its 200-day moving average price is $24.25. Eagle Point Credit has a fifty-two week low of $22.12 and a fifty-two week high of $25.00.
Hedge Funds Weigh In On Eagle Point Credit
A hedge fund recently bought a new stake in Eagle Point Credit stock. Karpus Management Inc. purchased a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECCC – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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.
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