Eagle Point Credit Company Inc. (NYSE:ECCC – Get Free Report) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 9,612 shares, a growth of 118.1% from the March 15th total of 4,408 shares. Based on an average daily volume of 4,177 shares, the short-interest ratio is currently 2.3 days.
Eagle Point Credit Stock Performance
Shares of ECCC remained flat at $24.27 during mid-day trading on Tuesday. 3,489 shares of the stock traded hands, compared to its average volume of 5,461. Eagle Point Credit has a 12 month low of $21.87 and a 12 month high of $25.00. The stock has a 50 day moving average of $24.38 and a 200-day moving average of $24.13.
Eagle Point Credit Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders 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) annualized dividend and a dividend yield of 6.7%.
Institutional Investors Weigh In On Eagle Point Credit
About Eagle Point Credit
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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