Short Interest in Eagle Point Credit Company Inc. (NYSE:ECC) Increases By 15.6%

Eagle Point Credit Company Inc. (NYSE:ECC) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 273,200 shares, an increase of 15.6% from the March 31st total of 236,400 shares. Based on an average trading volume of 683,800 shares, the short-interest ratio is presently 0.4 days.

Eagle Point Credit Trading Up 0.1 %

Shares of NYSE ECC traded up $0.01 during trading on Monday, hitting $10.03. 519,070 shares of the company were exchanged, compared to its average volume of 683,836. Eagle Point Credit has a 12-month low of $8.60 and a 12-month high of $11.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.60 and a current ratio of 6.60. The company has a fifty day moving average price of $10.06 and a 200-day moving average price of $9.79. The firm has a market capitalization of $771.79 million, a PE ratio of 5.64 and a beta of 0.77.

Eagle Point Credit (NYSE:ECC) last posted its earnings results on Thursday, February 22nd. The investment management company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). Eagle Point Credit had a net margin of 84.05% and a return on equity of 14.27%. The company had revenue of $39.39 million during the quarter, compared to analyst estimates of $39.10 million. During the same period in the previous year, the company earned $0.29 EPS. As a group, equities research analysts expect that Eagle Point Credit will post 1.39 EPS for the current year.

Eagle Point Credit Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 10th will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.68 dividend on an annualized basis and a yield of 16.75%. Eagle Point Credit’s payout ratio is currently 94.38%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ECC. Financial Advocates Investment Management increased its stake in Eagle Point Credit by 4.5% during the fourth quarter. Financial Advocates Investment Management now owns 26,823 shares of the investment management company’s stock worth $255,000 after purchasing an additional 1,157 shares during the period. Kestra Advisory Services LLC increased its stake in shares of Eagle Point Credit by 7.8% during the third quarter. Kestra Advisory Services LLC now owns 28,478 shares of the investment management company’s stock worth $289,000 after buying an additional 2,062 shares during the period. All Season Financial Advisors Inc. increased its stake in shares of Eagle Point Credit by 6.5% during the third quarter. All Season Financial Advisors Inc. now owns 37,413 shares of the investment management company’s stock worth $380,000 after buying an additional 2,291 shares during the period. NBC Securities Inc. purchased a new stake in shares of Eagle Point Credit during the first quarter worth approximately $31,000. Finally, Private Advisor Group LLC increased its stake in shares of Eagle Point Credit by 5.2% during the third quarter. Private Advisor Group LLC now owns 69,183 shares of the investment management company’s stock worth $702,000 after buying an additional 3,427 shares during the period. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Company Profile

Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.