Eagle Point Credit Company Inc. (NYSE:ECC) Short Interest Down 20.4% in November

Eagle Point Credit Company Inc. (NYSE:ECC) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 779,100 shares, a drop of 20.4% from the November 15th total of 978,800 shares. Based on an average daily volume of 1,032,600 shares, the short-interest ratio is presently 0.8 days.

Institutional Trading of Eagle Point Credit

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Webster Bank N. A. acquired a new position in Eagle Point Credit in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Eagle Point Credit in the third quarter valued at about $39,000. McIlrath & Eck LLC purchased a new position in shares of Eagle Point Credit in the third quarter worth about $57,000. EverSource Wealth Advisors LLC acquired a new position in Eagle Point Credit during the second quarter worth about $60,000. Finally, Sunbelt Securities Inc. boosted its position in Eagle Point Credit by 646.4% during the second quarter. Sunbelt Securities Inc. now owns 7,464 shares of the investment management company’s stock worth $75,000 after acquiring an additional 6,464 shares during the last quarter. Hedge funds and other institutional investors own 19.50% of the company’s stock.

Eagle Point Credit Price Performance

Shares of Eagle Point Credit stock traded down $0.03 on Friday, reaching $9.00. The company’s stock had a trading volume of 1,263,545 shares, compared to its average volume of 892,122. The stock has a 50-day moving average price of $9.46 and a 200-day moving average price of $9.79. Eagle Point Credit has a 52-week low of $8.89 and a 52-week high of $10.49. The company has a market capitalization of $692.55 million, a P/E ratio of 11.26 and a beta of 0.75. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18.

Eagle Point Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 11th will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.68 annualized dividend and a dividend yield of 18.67%. Eagle Point Credit’s dividend payout ratio (DPR) is 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.