Eagle Point Credit Company Inc. (NYSE:ECC) Short Interest Update

Eagle Point Credit Company Inc. (NYSE:ECC) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 978,800 shares, an increase of 10.6% from the October 31st total of 885,300 shares. Based on an average trading volume of 969,500 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reduced their target price on shares of Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th.

Institutional Investors Weigh In On Eagle Point Credit

Large investors have recently bought and sold shares of the stock. Webster Bank N. A. acquired a new stake in Eagle Point Credit in the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new stake in Eagle Point Credit in the third quarter worth $39,000. McIlrath & Eck LLC bought a new position in shares of Eagle Point Credit in the third quarter valued at $57,000. EverSource Wealth Advisors LLC bought a new position in shares of Eagle Point Credit in the second quarter valued at $60,000. Finally, Sunbelt Securities Inc. lifted its stake in shares of Eagle Point Credit by 646.4% in the second quarter. Sunbelt Securities Inc. now owns 7,464 shares of the investment management company’s stock valued at $75,000 after buying an additional 6,464 shares in the last quarter. 19.50% of the stock is currently owned by institutional investors and hedge funds.

Eagle Point Credit Trading Up 2.3 %

Shares of ECC traded up $0.21 during trading hours on Wednesday, hitting $9.50. 1,044,026 shares of the stock were exchanged, compared to its average volume of 877,720. Eagle Point Credit has a fifty-two week low of $8.89 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. The business has a 50-day moving average of $9.53 and a 200-day moving average of $9.84. The firm has a market capitalization of $731.01 million, a P/E ratio of 11.84 and a beta of 0.75.

Eagle Point Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.14 per share. This represents a $1.68 annualized dividend and a dividend yield of 17.68%. The ex-dividend date is Tuesday, March 11th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 210.00%.

Eagle Point Credit Company Profile

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.