Eagle Point Credit Company Inc. (NYSE:ECCC) Short Interest Up 305.2% in August

Eagle Point Credit Company Inc. (NYSE:ECCCGet Free Report) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 12,501 shares, a growth of 305.2% from the August 15th total of 3,085 shares. Based on an average trading volume of 4,361 shares, the short-interest ratio is presently 2.9 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Eagle Point Credit stock. Karpus Management Inc. purchased a new stake in Eagle Point Credit Company Inc. (NYSE:ECCCFree Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 61,395 shares of the company’s stock, valued at approximately $1,523,000.

Eagle Point Credit Price Performance

NYSE:ECCC opened at $24.86 on Friday. The business has a fifty day simple moving average of $24.98 and a two-hundred day simple moving average of $24.69. Eagle Point Credit has a 1 year low of $23.02 and a 1 year high of $25.50.

Eagle Point Credit Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be issued a dividend of $0.1354 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a c) annualized dividend and a yield of 6.5%.

Eagle Point Credit Company Profile

(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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