Short Interest in Eagle Point Credit Company Inc. (NYSE:ECC) Declines By 23.9%

Eagle Point Credit Company Inc. (NYSE:ECCGet Rating) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 394,300 shares, a decline of 23.9% from the March 31st total of 517,800 shares. Based on an average daily volume of 369,200 shares, the days-to-cover ratio is presently 1.1 days.

Eagle Point Credit stock opened at $13.07 on Monday. The business has a 50-day simple moving average of $13.34 and a two-hundred day simple moving average of $13.98. The company has a market cap of $539.32 million, a P/E ratio of 3.32 and a beta of 1.04. Eagle Point Credit has a 52-week low of $12.23 and a 52-week high of $15.54.

Eagle Point Credit (NYSE:ECCGet Rating) last released its quarterly earnings results on Thursday, February 17th. The investment management company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.01). The business had revenue of $27.08 million during the quarter, compared to analyst estimates of $26.45 million. On average, equities research analysts forecast that Eagle Point Credit will post 1.64 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, June 30th. Investors of record on Friday, June 10th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, June 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 12.85%. Eagle Point Credit’s dividend payout ratio (DPR) is presently 33.50%.

In other Eagle Point Credit news, insider Oa Eagle Group Investors, Llc sold 241,366 shares of the business’s stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $14.03, for a total value of $3,386,364.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 445,504 shares of company stock valued at $6,244,592. 0.41% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. All Season Financial Advisors Inc. grew its stake in shares of Eagle Point Credit by 69.4% during the 1st quarter. All Season Financial Advisors Inc. now owns 43,805 shares of the investment management company’s stock valued at $576,000 after acquiring an additional 17,951 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Eagle Point Credit during the 1st quarter valued at approximately $165,000. Sage Capital Advisors llc grew its stake in shares of Eagle Point Credit by 23.7% during the 1st quarter. Sage Capital Advisors llc now owns 31,258 shares of the investment management company’s stock valued at $407,000 after acquiring an additional 5,981 shares during the period. Belpointe Asset Management LLC bought a new position in shares of Eagle Point Credit during the 4th quarter valued at approximately $103,000. Finally, Brinker Capital Investments LLC bought a new position in shares of Eagle Point Credit during the 4th quarter valued at approximately $945,000. Institutional investors own 27.37% of the company’s stock.

About Eagle Point Credit (Get Rating)

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.

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