Eagle Point Credit Company Inc. (NYSE:ECCC) Short Interest Down 90.0% in April

Eagle Point Credit Company Inc. (NYSE:ECCC) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 958 shares, a decline of 90.0% from the March 31st total of 9,612 shares. Based on an average trading volume of 4,505 shares, the days-to-cover ratio is presently 0.2 days.

Eagle Point Credit Stock Performance

ECCC traded down $0.06 on Friday, reaching $24.79. 2,348 shares of the stock were exchanged, compared to its average volume of 5,393. The company’s 50-day moving average price is $24.44 and its 200 day moving average price is $24.18. Eagle Point Credit has a fifty-two week low of $21.90 and a fifty-two week high of $25.00.

Eagle Point Credit Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.1354 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a c) dividend on an annualized basis and a yield of 6.6%.

Institutional Trading of Eagle Point Credit

An institutional investor recently bought a new position in Eagle Point Credit stock. Karpus Management Inc. purchased a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECCC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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.