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

Eagle Point Credit Company Inc. (NYSE:ECC) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 885,300 shares, a growth of 7.9% from the October 15th total of 820,800 shares. Based on an average trading volume of 873,000 shares, the short-interest ratio is presently 1.0 days.

Eagle Point Credit Stock Down 1.6 %

Shares of Eagle Point Credit stock opened at $8.98 on Tuesday. The stock has a 50-day simple moving average of $9.69 and a 200-day simple moving average of $9.93. Eagle Point Credit has a 52-week low of $8.94 and a 52-week high of $10.49. The firm has a market cap of $691.01 million, a price-to-earnings ratio of 11.23 and a beta of 0.76. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.98 and a quick ratio of 2.98.

Eagle Point Credit Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 18.71%. Eagle Point Credit’s dividend payout ratio is currently 210.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ballentine Partners LLC grew its position in Eagle Point Credit by 5.3% in the 3rd quarter. Ballentine Partners LLC now owns 23,158 shares of the investment management company’s stock worth $228,000 after purchasing an additional 1,173 shares during the last quarter. Freestone Capital Holdings LLC grew its position in Eagle Point Credit by 1.3% in the 1st quarter. Freestone Capital Holdings LLC now owns 90,287 shares of the investment management company’s stock worth $913,000 after purchasing an additional 1,188 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Eagle Point Credit by 2.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock worth $763,000 after purchasing an additional 2,112 shares during the last quarter. Essex Financial Services Inc. grew its position in Eagle Point Credit by 8.6% in the 2nd quarter. Essex Financial Services Inc. now owns 26,764 shares of the investment management company’s stock worth $271,000 after purchasing an additional 2,127 shares during the last quarter. Finally, Webster Bank N. A. acquired a new stake in Eagle Point Credit in the 3rd quarter worth $28,000. Institutional investors own 19.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods decreased their target price on Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th.

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.