Eagle Point Credit (NYSE:ECC) Sees Unusually-High Trading Volume

Shares of Eagle Point Credit Company Inc. (NYSE:ECC) saw an uptick in trading volume on Wednesday . 1,000,755 shares were traded during trading, an increase of 26% from the previous session’s volume of 793,556 shares.The stock last traded at $9.88 and had previously closed at $10.00.

Eagle Point Credit Stock Up 2.3 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.55 and a current ratio of 4.55. The company has a market capitalization of $757.19 million, a P/E ratio of 5.28 and a beta of 0.77. The firm’s fifty day moving average is $10.08 and its 200-day moving average is $10.08.

Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings results on Tuesday, May 21st. The investment management company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Eagle Point Credit had a net margin of 88.90% and a return on equity of 13.48%. The firm had revenue of $40.81 million for the quarter, compared to analyst estimates of $42.30 million. As a group, equities research analysts predict that Eagle Point Credit Company Inc. will post 1.34 EPS for the current year.

Eagle Point Credit Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th will be paid a $0.14 dividend. This represents a $1.68 annualized dividend and a yield of 17.07%. The ex-dividend date of this dividend is Wednesday, December 11th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 90.32%.

Institutional Investors Weigh In On Eagle Point Credit

A number of hedge funds have recently added to or reduced their stakes in ECC. Cadent Capital Advisors LLC increased its position in shares of Eagle Point Credit by 7.8% during the 2nd quarter. Cadent Capital Advisors LLC now owns 451,611 shares of the investment management company’s stock valued at $4,539,000 after purchasing an additional 32,666 shares during the last quarter. PFG Investments LLC purchased a new stake in shares of Eagle Point Credit during the 1st quarter worth approximately $1,815,000. TrueMark Investments LLC bought a new stake in shares of Eagle Point Credit in the second quarter valued at $1,444,000. Quadrature Capital Ltd lifted its holdings in Eagle Point Credit by 5.8% during the first quarter. Quadrature Capital Ltd now owns 132,905 shares of the investment management company’s stock valued at $1,346,000 after purchasing an additional 7,285 shares during the last quarter. Finally, Oxinas Partners Wealth Management LLC boosted its holdings in Eagle Point Credit by 24.0% in the 2nd quarter. Oxinas Partners Wealth Management LLC now owns 123,252 shares of the investment management company’s stock worth $1,239,000 after buying an additional 23,819 shares during the period. Institutional investors and hedge funds own 19.50% of the company’s stock.

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.