Eagle Point Credit (NYSE:ECC) Stock Crosses Below 50-Day Moving Average of $10.06

Eagle Point Credit Company Inc. (NYSE:ECC) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $10.06 and traded as low as $9.96. Eagle Point Credit shares last traded at $9.98, with a volume of 511,554 shares changing hands.

Eagle Point Credit Price Performance

The company has a 50 day simple moving average of $10.06 and a 200-day simple moving average of $9.78. The stock has a market cap of $767.96 million, a price-to-earnings ratio of 5.61 and a beta of 0.77. The company has a current ratio of 6.60, a quick ratio of 6.60 and a debt-to-equity ratio of 0.22.

Eagle Point Credit (NYSE:ECC) last released its quarterly earnings results on Thursday, February 22nd. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.05). The firm had revenue of $39.39 million during the quarter, compared to analyst estimates of $39.10 million. Eagle Point Credit had a net margin of 84.05% and a return on equity of 14.27%. During the same period in the prior year, the business earned $0.29 EPS. Research analysts expect that Eagle Point Credit Company Inc. will post 1.39 EPS for the current year.

Eagle Point Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be issued a $0.14 dividend. This represents a $1.68 annualized dividend and a dividend yield of 16.83%. The ex-dividend date of this dividend is Monday, June 10th. Eagle Point Credit’s payout ratio is 94.38%.

Hedge Funds Weigh In On Eagle Point Credit

Several hedge funds have recently modified their holdings of ECC. All Season Financial Advisors Inc. grew its holdings in shares of Eagle Point Credit by 6.5% in the 3rd quarter. All Season Financial Advisors Inc. now owns 37,413 shares of the investment management company’s stock valued at $380,000 after acquiring an additional 2,291 shares in the last quarter. Private Advisor Group LLC grew its holdings in Eagle Point Credit by 5.2% during the third quarter. Private Advisor Group LLC now owns 69,183 shares of the investment management company’s stock worth $702,000 after purchasing an additional 3,427 shares during the period. Black Swift Group LLC grew its holdings in Eagle Point Credit by 970.9% during the third quarter. Black Swift Group LLC now owns 972,370 shares of the investment management company’s stock worth $96,000 after purchasing an additional 881,570 shares during the period. PFG Investments LLC bought a new position in Eagle Point Credit during the third quarter worth about $149,000. Finally, Kingsview Wealth Management LLC bought a new position in Eagle Point Credit during the third quarter worth about $121,000. Institutional investors 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.