Raymond James & Associates Has $685,000 Holdings in Eagle Point Credit Company Inc. (NYSE:ECC)

Raymond James & Associates grew its position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 16.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,122 shares of the investment management company’s stock after buying an additional 10,150 shares during the quarter. Raymond James & Associates’ holdings in Eagle Point Credit were worth $685,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ECC. Black Swift Group LLC raised its holdings in shares of Eagle Point Credit by 970.9% in the third quarter. Black Swift Group LLC now owns 972,370 shares of the investment management company’s stock valued at $96,000 after buying an additional 881,570 shares during the last quarter. Kingsview Wealth Management LLC acquired a new stake in Eagle Point Credit in the 3rd quarter valued at about $121,000. PFG Investments LLC bought a new position in shares of Eagle Point Credit in the third quarter worth about $149,000. Atomi Financial Group Inc. grew its stake in shares of Eagle Point Credit by 47.1% during the third quarter. Atomi Financial Group Inc. now owns 15,456 shares of the investment management company’s stock valued at $157,000 after purchasing an additional 4,947 shares during the last quarter. Finally, Samalin Investment Counsel LLC grew its stake in shares of Eagle Point Credit by 35.2% during the third quarter. Samalin Investment Counsel LLC now owns 23,591 shares of the investment management company’s stock valued at $239,000 after purchasing an additional 6,139 shares during the last quarter. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Stock Performance

ECC stock opened at $10.03 on Thursday. The company has a 50 day moving average price of $10.06 and a 200 day moving average price of $9.79. Eagle Point Credit Company Inc. has a fifty-two week low of $8.60 and a fifty-two week high of $11.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.60 and a quick ratio of 6.60. The stock has a market capitalization of $771.40 million, a PE ratio of 5.63 and a beta of 0.77.

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

Eagle Point Credit Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, June 10th. This represents a $1.68 annualized dividend and a yield of 16.76%. Eagle Point Credit’s dividend payout ratio is currently 94.38%.

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.