Eagle Point Credit Company Inc. (NYSE:ECC) Short Interest Update

Eagle Point Credit Company Inc. (NYSE:ECC) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 286,400 shares, a decline of 8.3% from the May 31st total of 312,300 shares. Based on an average trading volume of 764,300 shares, the days-to-cover ratio is currently 0.4 days.

Eagle Point Credit Price Performance

Shares of ECC traded up $0.07 during mid-day trading on Wednesday, reaching $10.16. The stock had a trading volume of 570,750 shares, compared to its average volume of 739,113. The firm has a market cap of $781.81 million, a price-to-earnings ratio of 5.46 and a beta of 0.77. Eagle Point Credit has a 12 month low of $8.60 and a 12 month high of $10.58. The business has a fifty day moving average of $10.16 and a 200 day moving average of $10.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.55 and a current ratio of 4.55.

Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings results on Tuesday, May 21st. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). The business had revenue of $40.81 million during the quarter, compared to analysts’ expectations of $42.30 million. Eagle Point Credit had a return on equity of 13.48% and a net margin of 88.90%. Equities analysts predict that Eagle Point Credit will post 1.34 EPS for the current year.

Eagle Point Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.14 per share. This represents a $1.68 annualized dividend and a yield of 16.54%. The ex-dividend date is Tuesday, September 10th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 90.32%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. purchased a new stake in shares of Eagle Point Credit in the first quarter worth about $31,000. Nadler Financial Group Inc. bought a new position in shares of Eagle Point Credit during the 1st quarter valued at approximately $101,000. CFO4Life Group LLC purchased a new position in shares of Eagle Point Credit in the first quarter valued at $105,000. J.W. Cole Advisors Inc. bought a new stake in Eagle Point Credit in the first quarter worth $114,000. Finally, Financial Advocates Investment Management raised its stake in Eagle Point Credit by 4.5% during the fourth quarter. Financial Advocates Investment Management now owns 26,823 shares of the investment management company’s stock valued at $255,000 after purchasing an additional 1,157 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.