Short Interest in Eagle Point Credit Company Inc. (NYSE:ECC) Rises By 42.5%

Eagle Point Credit Company Inc. (NYSE:ECC) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,110,000 shares, an increase of 42.5% from the November 30th total of 779,100 shares. Based on an average trading volume of 1,092,700 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Webster Bank N. A. acquired a new position in shares of Eagle Point Credit in the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in Eagle Point Credit during the 3rd quarter valued at $39,000. McIlrath & Eck LLC bought a new position in Eagle Point Credit in the 3rd quarter valued at $57,000. EverSource Wealth Advisors LLC acquired a new position in Eagle Point Credit in the second quarter worth $60,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of Eagle Point Credit by 646.4% during the second quarter. Sunbelt Securities Inc. now owns 7,464 shares of the investment management company’s stock worth $75,000 after purchasing an additional 6,464 shares during the last quarter. 19.50% of the stock is owned by institutional investors.

Eagle Point Credit Price Performance

Shares of ECC stock traded down $0.12 during trading hours on Monday, hitting $8.70. The company had a trading volume of 2,208,244 shares, compared to its average volume of 903,016. Eagle Point Credit has a 12 month low of $8.59 and a 12 month high of $10.49. 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’s fifty day moving average is $9.26 and its 200 day moving average is $9.69. The firm has a market capitalization of $669.45 million, a price-to-earnings ratio of 10.88 and a beta of 0.75.

Eagle Point Credit Announces Dividend

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

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.