Eagle Point Credit Company Inc. (NYSE:ECC) Sees Large Increase in Short Interest

Eagle Point Credit Company Inc. (NYSE:ECC) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 273,200 shares, a growth 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.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Penserra Capital Management LLC bought a new stake in Eagle Point Credit in the 3rd quarter valued at $14,629,000. Black Swift Group LLC grew its holdings in Eagle Point Credit by 970.9% during the 3rd quarter. Black Swift Group LLC now owns 972,370 shares of the investment management company’s stock valued at $96,000 after purchasing an additional 881,570 shares during the last quarter. PFG Investments LLC bought a new position in Eagle Point Credit during the 1st quarter valued at about $1,815,000. Quadrature Capital Ltd bought a new position in Eagle Point Credit during the 4th quarter valued at about $1,192,000. Finally, Cadent Capital Advisors LLC grew its holdings in Eagle Point Credit by 21.3% during the 1st quarter. Cadent Capital Advisors LLC now owns 418,945 shares of the investment management company’s stock valued at $4,236,000 after purchasing an additional 73,583 shares during the last quarter. Hedge funds and other institutional investors own 19.50% of the company’s stock.

Eagle Point Credit Trading Up 0.0 %

Shares of ECC stock opened at $10.05 on Wednesday. Eagle Point Credit has a 12-month low of $8.60 and a 12-month high of $11.79. 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 firm’s 50 day moving average is $10.07 and its 200 day moving average is $9.79. The stock has a market capitalization of $772.96 million, a P/E ratio of 5.64 and a beta of 0.77.

Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings results on Thursday, February 22nd. The investment management company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.05). The business had revenue of $39.39 million for the quarter, compared to analysts’ expectations of $39.10 million. Eagle Point Credit had a return on equity of 14.27% and a net margin of 84.05%. During the same quarter in the prior year, the business earned $0.29 EPS. Research analysts expect that Eagle Point Credit will post 1.39 earnings per share for the current year.

Eagle Point Credit Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.14 per share. This represents a $1.68 annualized dividend and a dividend yield of 16.72%. The ex-dividend date of this dividend is Monday, June 10th. Eagle Point Credit’s dividend payout ratio is presently 94.38%.

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.