Eagle Point Credit Company Inc. (NYSE:ECCC) Short Interest Up 305.2% in August

Eagle Point Credit Company Inc. (NYSE:ECCC) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 12,501 shares, a growth of 305.2% from the August 15th total of 3,085 shares. Based on an average trading volume of 4,361 shares, the short-interest ratio is currently 2.9 days.

Eagle Point Credit Stock Down 0.2%

ECCC traded down $0.04 during trading on Friday, hitting $24.86. 1,215 shares of the stock traded hands, compared to its average volume of 5,355. The business has a 50 day moving average price of $24.98 and a 200 day moving average price of $24.69. Eagle Point Credit has a twelve month low of $23.02 and a twelve month high of $25.50.

Eagle Point Credit Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 11th will be issued a dividend of $0.1354 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%.

Institutional Trading of Eagle Point Credit

A hedge fund recently bought a new stake in Eagle Point Credit stock. Karpus Management Inc. bought a new position in Eagle Point Credit Company Inc. (NYSE:ECCC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 61,395 shares of the company’s stock, valued at approximately $1,523,000.

Eagle Point Credit Company Profile

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.