Short Interest in Eagle Point Credit Company Inc. (NYSE:ECCC) Declines By 38.4%

Eagle Point Credit Company Inc. (NYSE:ECCC) was the recipient of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 3,085 shares, a decrease of 38.4% from the July 30th total of 5,011 shares. Based on an average trading volume of 3,835 shares, the days-to-cover ratio is presently 0.8 days.

Eagle Point Credit Price Performance

Shares of NYSE:ECCC opened at $25.25 on Monday. The company has a 50 day moving average of $24.97 and a two-hundred day moving average of $24.65. Eagle Point Credit has a 52-week low of $23.02 and a 52-week high of $25.50.

Eagle Point Credit Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 11th will be paid a $0.1354 dividend. The ex-dividend date is Friday, December 11th. This represents a c) annualized dividend and a dividend yield of 6.4%.

Institutional Investors Weigh In On Eagle Point Credit

An institutional investor recently bought a new position in Eagle Point Credit stock. Karpus Management Inc. acquired a new position in Eagle Point Credit Company Inc. (NYSE:ECCC) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 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.