Short Interest in Eagle Point Credit Company Inc. (NYSE:ECCC) Declines By 70.8%

Eagle Point Credit Company Inc. (NYSE:ECCC) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 4,408 shares, a drop of 70.8% from the February 26th total of 15,116 shares. Based on an average trading volume of 8,136 shares, the days-to-cover ratio is currently 0.5 days. Based on an average trading volume of 8,136 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On Eagle Point Credit

A hedge fund recently bought a new stake in Eagle Point Credit stock. Karpus Management Inc. bought a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECCC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 61,395 shares of the company’s stock, valued at approximately $1,523,000.

Eagle Point Credit Stock Down 0.1%

Shares of ECCC stock traded down $0.01 during mid-day trading on Wednesday, hitting $24.54. 6,726 shares of the stock traded hands, compared to its average volume of 5,935. The company’s 50-day simple moving average is $24.43 and its 200-day simple moving average is $24.05. Eagle Point Credit has a twelve month low of $21.87 and a twelve month high of $25.00.

Eagle Point Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be issued a $0.1354 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a c) annualized dividend and a dividend yield of 6.6%.

Eagle Point Credit Company Profile

Eagle Point Credit Company (NYSE: ECCC) is a closed-end management investment company that specializes in structured finance assets. Since its formation in January 2018, the company has pursued a strategy aimed at generating current income and capital appreciation by investing in a diversified portfolio of collateralized loan obligations (CLOs) and other structured credit instruments. Eagle Point Credit’s investment mandate encompasses both equity and debt tranches of CLOs, as well as select specialty finance exposures, allowing it to capture opportunities across the capital structure.

The firm’s portfolio is predominantly concentrated in U.S.-domiciled collateral vehicles, with the flexibility to allocate to European and other developed-market credits when attractive risk-adjusted returns are available.