Eagle Point Credit (NYSE:ECC) Reaches New 1-Year Low – Here’s Why

Eagle Point Credit Company Inc. (NYSE:ECC) reached a new 52-week low on Monday . The stock traded as low as $8.86 and last traded at $8.88, with a volume of 1850817 shares changing hands. The stock had previously closed at $9.00.

Eagle Point Credit Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. The firm has a market cap of $683.70 million, a price-to-earnings ratio of 11.25 and a beta of 0.75. The business has a fifty day simple moving average of $9.46 and a 200-day simple moving average of $9.79.

Eagle Point Credit Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be paid a $0.14 dividend. The ex-dividend date is Monday, January 13th. Eagle Point Credit’s dividend payout ratio is 210.00%.

Institutional Trading of Eagle Point Credit

Institutional investors have recently added to or reduced their stakes in the stock. PFG Investments LLC lifted its holdings in shares of Eagle Point Credit by 115.8% in the 2nd quarter. PFG Investments LLC now owns 387,398 shares of the investment management company’s stock worth $3,893,000 after purchasing an additional 207,875 shares in the last quarter. TrueMark Investments LLC purchased a new stake in Eagle Point Credit in the 2nd quarter worth about $1,444,000. Wedbush Securities Inc. lifted its stake in shares of Eagle Point Credit by 26.2% during the 2nd quarter. Wedbush Securities Inc. now owns 438,276 shares of the investment management company’s stock valued at $4,405,000 after buying an additional 91,058 shares in the last quarter. International Assets Investment Management LLC bought a new position in Eagle Point Credit in the 3rd quarter worth about $7,600,000. Finally, Main Street Financial Solutions LLC grew its stake in Eagle Point Credit by 95.6% during the second quarter. Main Street Financial Solutions LLC now owns 147,447 shares of the investment management company’s stock valued at $1,482,000 after acquiring an additional 72,067 shares in the last quarter. 19.50% of the stock is currently owned by institutional investors.

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.