Financial Advocates Investment Management Cuts Stake in Eagle Point Credit Company Inc. (NYSE:ECC)

Financial Advocates Investment Management trimmed its position in Eagle Point Credit Company Inc. (NYSE:ECC) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,676 shares of the investment management company’s stock after selling 1,223 shares during the quarter. Financial Advocates Investment Management owned about 0.10% of Eagle Point Credit worth $681,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ECC. Union Bancaire Privee UBP SA bought a new stake in shares of Eagle Point Credit in the 4th quarter worth about $27,000. Webster Bank N. A. purchased a new stake in Eagle Point Credit in the third quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in Eagle Point Credit in the 3rd quarter worth about $39,000. McIlrath & Eck LLC bought a new stake in shares of Eagle Point Credit during the third quarter valued at approximately $57,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in Eagle Point Credit during the 4th quarter valued at $98,000. Institutional investors own 19.50% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley reduced their price target on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, January 7th.

Eagle Point Credit Trading Up 0.5 %

NYSE:ECC opened at $8.96 on Friday. 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 has a market capitalization of $689.09 million, a price-to-earnings ratio of 11.19 and a beta of 0.75. Eagle Point Credit Company Inc. has a 52 week low of $8.56 and a 52 week high of $10.49. The firm has a 50 day moving average of $8.95 and a 200 day moving average of $9.45.

Eagle Point Credit Dividend Announcement

The business also recently announced a dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 14th were paid a $0.14 dividend. This represents a yield of 18.88%. The ex-dividend date was Monday, January 13th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 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.