Eagle Point Credit Company Inc. (NYSE:ECCC) Sees Significant Growth in Short Interest

Eagle Point Credit Company Inc. (NYSE:ECCC) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 4,519 shares, a growth of 77.8% from the June 15th total of 2,541 shares. Based on an average daily volume of 2,971 shares, the days-to-cover ratio is presently 1.5 days.

Eagle Point Credit Stock Performance

ECCC stock opened at $24.88 on Friday. The firm has a 50 day simple moving average of $24.71 and a 200 day simple moving average of $24.56. Eagle Point Credit has a 52 week low of $22.94 and a 52 week high of $25.10.

Eagle Point Credit Announces Dividend

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%.

Hedge Funds Weigh In On Eagle Point Credit

An institutional investor recently bought a new stake in Eagle Point Credit stock. Karpus Management Inc. purchased a new position in Eagle Point Credit Company Inc. (NYSE:ECCC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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.