Short Interest in Eagle Point Credit Company Inc. (NYSE:ECC) Decreases By 8.3%

Eagle Point Credit Company Inc. (NYSE:ECC) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 286,400 shares, a drop of 8.3% from the May 31st total of 312,300 shares. Based on an average trading volume of 764,300 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On Eagle Point Credit

Institutional investors have recently modified their holdings of the company. NBC Securities Inc. purchased a new position in Eagle Point Credit in the first quarter valued at $31,000. Nadler Financial Group Inc. acquired a new position in shares of Eagle Point Credit during the 1st quarter worth about $101,000. CFO4Life Group LLC acquired a new position in shares of Eagle Point Credit during the 1st quarter worth about $105,000. J.W. Cole Advisors Inc. purchased a new position in shares of Eagle Point Credit in the 1st quarter valued at about $114,000. Finally, Financial Advocates Investment Management raised its position in shares of Eagle Point Credit by 4.5% during the 4th quarter. Financial Advocates Investment Management now owns 26,823 shares of the investment management company’s stock worth $255,000 after acquiring an additional 1,157 shares in the last quarter. 19.50% of the stock is owned by hedge funds and other institutional investors.

Eagle Point Credit Stock Up 0.7 %

NYSE:ECC traded up $0.07 during midday trading on Wednesday, reaching $10.16. The company had a trading volume of 570,750 shares, compared to its average volume of 739,113. Eagle Point Credit has a 12-month low of $8.60 and a 12-month high of $10.58. The firm has a market capitalization of $781.81 million, a price-to-earnings ratio of 5.46 and a beta of 0.77. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.20. The stock’s fifty day simple moving average is $10.16 and its 200-day simple moving average is $10.02.

Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings data on Tuesday, May 21st. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Eagle Point Credit had a net margin of 88.90% and a return on equity of 13.48%. The company had revenue of $40.81 million during the quarter, compared to analysts’ expectations of $42.30 million. On average, sell-side analysts anticipate that Eagle Point Credit will post 1.34 earnings per share for the current fiscal year.

Eagle Point Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be given a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 16.54%. The ex-dividend date of this dividend is Tuesday, September 10th. Eagle Point Credit’s dividend payout ratio is presently 90.32%.

About Eagle Point Credit

Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.