Eagle Point Credit Company Inc. (NYSE:ECCC – Get Free Report) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 2,492 shares, a drop of 80.1% from the August 31st total of 12,501 shares. Based on an average daily trading volume, of 2,263 shares, the short-interest ratio is currently 1.1 days.
Eagle Point Credit Stock Down 0.3%
Shares of ECCC traded down $0.06 during mid-day trading on Friday, reaching $24.94. The company had a trading volume of 244 shares, compared to its average volume of 5,156. Eagle Point Credit has a 52-week low of $23.02 and a 52-week high of $25.50. The stock has a 50 day moving average of $24.98 and a two-hundred day moving average of $24.72.
Eagle Point Credit Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be issued a $0.1354 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.63 dividend on an annualized basis and a yield of 6.5%.
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.
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