Eagle Point Credit Company Inc. (NYSE:ECCC) Short Interest Up 226.4% in May

Eagle Point Credit Company Inc. (NYSE:ECCC) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 5,134 shares, an increase of 226.4% from the April 30th total of 1,573 shares. Based on an average daily trading volume, of 17,671 shares, the days-to-cover ratio is currently 0.3 days.

Eagle Point Credit Stock Up 0.2%

Shares of NYSE:ECCC traded up $0.04 during midday trading on Friday, reaching $24.82. The company’s stock had a trading volume of 643 shares, compared to its average volume of 6,778. The stock has a fifty day moving average of $24.49 and a 200 day moving average of $24.36. Eagle Point Credit has a twelve month low of $22.42 and a twelve month high of $25.00.

Eagle Point Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.1354 per share. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Thursday, September 10th.

Institutional Investors Weigh In On Eagle Point Credit

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