Eagle Point Credit Company Inc. (NYSE:ECCC) Sees Significant Growth in Short Interest

Eagle Point Credit Company Inc. (NYSE:ECCC) saw a significant increase in short interest in March. As of March 31st, there was short interest totaling 9,612 shares, an increase of 118.1% from the March 15th total of 4,408 shares. Based on an average trading volume of 4,177 shares, the short-interest ratio is currently 2.3 days.

Institutional Trading of Eagle Point Credit

An institutional investor recently bought a new position in Eagle Point Credit stock. Karpus Management Inc. acquired 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 & Exchange Commission. The fund acquired 61,395 shares of the company’s stock, valued at approximately $1,523,000.

Eagle Point Credit Trading Down 0.4%

ECCC traded down $0.11 on Monday, hitting $24.31. The company had a trading volume of 3,823 shares, compared to its average volume of 5,494. Eagle Point Credit has a 12-month low of $21.87 and a 12-month high of $25.00. The business’s fifty day simple moving average is $24.38 and its 200 day simple moving average is $24.13.

Eagle Point Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be given a $0.1354 dividend. The ex-dividend date is Wednesday, June 10th. This represents a c) annualized dividend and a yield of 6.7%.

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.