Short Interest in Eagle Point Credit Company Inc. (NYSE:ECC) Increases By 26.4%

Eagle Point Credit Company Inc. (NYSE:ECCGet Free Report) was the recipient of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 312,300 shares, a growth of 26.4% from the May 15th total of 247,000 shares. Based on an average trading volume of 760,200 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Eagle Point Credit

Institutional investors have recently made changes to their positions in the business. NBC Securities Inc. acquired a new stake in shares of Eagle Point Credit during the 1st quarter valued at about $31,000. Nadler Financial Group Inc. acquired a new position in Eagle Point Credit in the first quarter valued at about $101,000. CFO4Life Group LLC acquired a new position in Eagle Point Credit in the first quarter valued at about $105,000. J.W. Cole Advisors Inc. acquired a new position in Eagle Point Credit in the first quarter valued at about $114,000. Finally, Atomi Financial Group Inc. boosted its position in Eagle Point Credit by 47.1% in the third quarter. Atomi Financial Group Inc. now owns 15,456 shares of the investment management company’s stock valued at $157,000 after buying an additional 4,947 shares in the last quarter. 19.50% of the stock is currently owned by institutional investors and hedge funds.

Eagle Point Credit Stock Performance

ECC traded down $0.01 during trading on Monday, hitting $10.10. The stock had a trading volume of 524,028 shares, compared to its average volume of 732,137. The firm has a market cap of $776.81 million, a PE ratio of 5.43 and a beta of 0.78. Eagle Point Credit has a 12 month low of $8.60 and a 12 month high of $10.58. The company has a current ratio of 6.60, a quick ratio of 6.60 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $10.14 and a 200-day simple moving average of $9.98.

Eagle Point Credit (NYSE:ECCGet Free Report) last posted its quarterly earnings results on Tuesday, May 21st. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). The company had revenue of $40.81 million during the quarter, compared to analyst estimates of $42.30 million. Eagle Point Credit had a return on equity of 14.21% and a net margin of 88.90%. Analysts expect that Eagle Point Credit will post 1.34 EPS for the current year.

Eagle Point Credit Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be given a $0.14 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $1.68 annualized dividend and a yield of 16.64%. Eagle Point Credit’s dividend payout ratio is 90.32%.

Eagle Point Credit Company Profile

(Get Free Report)

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.

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