Eagle Point Credit Company Inc. (NYSE:ECC) Short Interest Down 13.5% in January

Eagle Point Credit Company Inc. (NYSE:ECC) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 864,100 shares, a drop of 13.5% from the January 15th total of 998,400 shares. Based on an average daily trading volume, of 1,169,100 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analysts Forecast Growth

Separately, B. Riley decreased their target price on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th.

Eagle Point Credit Trading Down 0.3 %

ECC stock traded down $0.03 during trading on Friday, hitting $8.64. The company had a trading volume of 917,989 shares, compared to its average volume of 910,981. The business has a 50-day moving average of $8.88 and a 200-day moving average of $9.40. Eagle Point Credit has a one year low of $8.56 and a one year high of $10.49. The stock has a market cap of $664.46 million, a PE ratio of 10.79 and a beta of 0.75. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18.

Eagle Point Credit Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a $0.14 dividend. This represents a $1.68 annualized dividend and a yield of 19.46%. The ex-dividend date of this dividend is Tuesday, June 10th. Eagle Point Credit’s payout ratio is presently 210.00%.

Institutional Trading of Eagle Point Credit

Several institutional investors have recently added to or reduced their stakes in the stock. Legacy Wealth Managment LLC ID lifted its stake in Eagle Point Credit by 20,306.0% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 847,871 shares of the investment management company’s stock valued at $7,580,000 after buying an additional 843,716 shares during the period. Raymond James Financial Inc. acquired a new position in Eagle Point Credit in the fourth quarter valued at approximately $2,038,000. Money Concepts Capital Corp acquired a new position in Eagle Point Credit in the fourth quarter valued at approximately $1,696,000. PFG Investments LLC lifted its stake in Eagle Point Credit by 42.9% in the third quarter. PFG Investments LLC now owns 553,506 shares of the investment management company’s stock valued at $5,458,000 after buying an additional 166,108 shares during the period. Finally, Talon Private Wealth LLC acquired a new position in Eagle Point Credit in the fourth quarter valued at approximately $972,000. 19.50% of the stock is currently owned by institutional investors.

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.