Eagle Point Credit Company Inc. (NYSE:ECC) Sees Significant Increase in Short Interest

Eagle Point Credit Company Inc. (NYSE:ECC) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,110,000 shares, a growth 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 presently 1.0 days.

Eagle Point Credit Stock Performance

Eagle Point Credit stock traded down $0.12 during trading on Monday, hitting $8.70. The stock had a trading volume of 2,208,244 shares, compared to its average volume of 902,832. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $9.26 and its two-hundred day moving average is $9.69. Eagle Point Credit has a 1 year low of $8.56 and a 1 year high of $10.49. The stock has a market cap 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 declared a dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, January 13th. Eagle Point Credit’s payout ratio is currently 210.00%.

Institutional Trading of Eagle Point Credit

A number of institutional investors have recently added to or reduced their stakes in the stock. Webster Bank N. A. bought a new position in Eagle Point Credit in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new position in Eagle Point Credit during the third quarter worth about $39,000. McIlrath & Eck LLC bought a new position in Eagle Point Credit in the 3rd quarter worth about $57,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Eagle Point Credit in the 2nd quarter valued at about $60,000. Finally, Sunbelt Securities Inc. boosted its position in shares of Eagle Point Credit by 646.4% during the 2nd quarter. Sunbelt Securities Inc. now owns 7,464 shares of the investment management company’s stock valued at $75,000 after acquiring an additional 6,464 shares during the last quarter. Hedge funds and other institutional investors own 19.50% of the company’s stock.

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.