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

Eagle Point Credit Company Inc. (NYSE:ECCC) was the target of a large increase in short interest in 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 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 $0.06 during mid-day trading on Friday, hitting $24.84. The stock had a trading volume of 822 shares, compared to its average volume of 6,779. Eagle Point Credit has a 12-month low of $22.42 and a 12-month high of $25.00. The company’s 50 day moving average is $24.50 and its 200-day moving average is $24.36.

Eagle Point Credit Dividend Announcement

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Eagle Point Credit stock. Karpus Management Inc. purchased a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECCC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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.