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

Eagle Point Credit Company Inc. (NYSE:ECCC) saw a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 3,085 shares, a decline 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 currently 0.8 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Eagle Point Credit stock. Karpus Management Inc. bought a new stake in Eagle Point Credit Company Inc. (NYSE:ECCC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 61,395 shares of the company’s stock, valued at approximately $1,523,000.

Eagle Point Credit Trading Up 0.1%

Shares of NYSE:ECCC traded up $0.02 during trading hours on Wednesday, reaching $25.07. The stock had a trading volume of 210 shares, compared to its average volume of 5,457. The firm’s 50 day moving average is $24.97 and its 200-day moving average is $24.66. Eagle Point Credit has a 1 year low of $23.02 and a 1 year high of $25.50.

Eagle Point Credit Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 11th will be given a dividend of $0.1354 per share. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Friday, December 11th.

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.