Eagle Point Credit (NYSE:ECCC) Shares Up 0% – What’s Next?

Shares of Eagle Point Credit Company Inc. (NYSE:ECCCGet Free Report) rose 0% during trading on Friday . The company traded as high as $24.87 and last traded at $24.8410. Approximately 14,784 shares were traded during mid-day trading, an increase of 160% from the average daily volume of 5,685 shares. The stock had previously closed at $24.83.

Eagle Point Credit Stock Performance

The firm’s 50 day moving average is $24.84 and its 200 day moving average is $24.59.

Eagle Point Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a $0.1354 dividend. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Thursday, September 10th.

Institutional Inflows and Outflows

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:ECCCFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 61,395 shares of the company’s stock, valued at approximately $1,523,000.

About Eagle Point Credit

(Get Free Report)

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.

Further Reading

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