Eagle Point Credit Company Inc. (NYSE:ECC) Short Interest Up 5.6% in July

Eagle Point Credit Company Inc. (NYSE:ECC) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totalling 336,900 shares, an increase of 5.6% from the June 30th total of 319,000 shares. Based on an average trading volume of 932,500 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Trading of Eagle Point Credit

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ECC. NBC Securities Inc. acquired a new position in shares of Eagle Point Credit in the 1st quarter valued at $31,000. Nadler Financial Group Inc. acquired a new position in Eagle Point Credit in the first quarter valued at $101,000. CFO4Life Group LLC purchased a new position in shares of Eagle Point Credit during the first quarter worth about $105,000. Silverleafe Capital Partners LLC acquired a new stake in shares of Eagle Point Credit during the second quarter worth about $109,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Eagle Point Credit in the 1st quarter valued at about $114,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Stock Down 0.4 %

Shares of ECC traded down $0.04 during midday trading on Thursday, reaching $9.91. The stock had a trading volume of 868,653 shares, compared to its average volume of 817,826. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.55 and a quick ratio of 4.55. The company’s fifty day simple moving average is $10.10 and its two-hundred day simple moving average is $10.08. The company has a market cap of $762.57 million, a price-to-earnings ratio of 5.32 and a beta of 0.77. Eagle Point Credit has a 1-year low of $8.60 and a 1-year high of $10.58.

Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings results on Tuesday, May 21st. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Eagle Point Credit had a return on equity of 13.48% and a net margin of 88.90%. The business had revenue of $40.81 million for the quarter, compared to analysts’ expectations of $42.30 million. Equities research analysts expect that Eagle Point Credit will post 1.34 earnings per share for the current year.

Eagle Point Credit Cuts Dividend

The business also recently declared a — dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be paid a $0.16 dividend. The ex-dividend date is Friday, October 11th. This represents a yield of 17%. Eagle Point Credit’s dividend payout ratio is currently 90.32%.

About Eagle Point Credit

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.