Kestra Private Wealth Services LLC Buys 3,464 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

Kestra Private Wealth Services LLC lifted its stake in Eagle Point Credit Company Inc. (NYSE:ECC) by 4.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 76,425 shares of the investment management company’s stock after acquiring an additional 3,464 shares during the period. Kestra Private Wealth Services LLC owned 0.10% of Eagle Point Credit worth $679,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ECC. Apollon Wealth Management LLC bought a new position in shares of Eagle Point Credit in the fourth quarter valued at approximately $163,000. Strategic Financial Concepts LLC bought a new position in Eagle Point Credit in the 4th quarter worth $158,000. Choreo LLC lifted its position in Eagle Point Credit by 60.6% during the 4th quarter. Choreo LLC now owns 38,856 shares of the investment management company’s stock worth $344,000 after acquiring an additional 14,669 shares during the last quarter. Money Concepts Capital Corp bought a new stake in Eagle Point Credit during the fourth quarter valued at about $1,696,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Eagle Point Credit in the fourth quarter valued at about $27,000. 19.50% of the stock is currently owned by institutional investors and hedge funds.

Eagle Point Credit Price Performance

NYSE:ECC opened at $8.64 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. Eagle Point Credit Company Inc. has a one year low of $8.56 and a one year high of $10.49. The company has a fifty day moving average price of $8.90 and a 200 day moving average price of $9.41. The stock has a market cap of $664.45 million, a P/E ratio of 10.79 and a beta of 0.75.

Eagle Point Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be paid a $0.14 dividend. This represents a $1.68 annualized dividend and a dividend yield of 19.46%. The ex-dividend date is Tuesday, June 10th. Eagle Point Credit’s payout ratio is presently 210.00%.

Wall Street Analyst Weigh In

Separately, B. Riley decreased their target price on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th.

Eagle Point Credit 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.