Eagle Point Credit (NYSE:ECCC) Shares Down 0.7% – Here’s Why

Eagle Point Credit Company Inc. (NYSE:ECCC) traded down 0.7% during mid-day trading on Wednesday . The stock traded as low as $24.35 and last traded at $24.5090. 4,111 shares were traded during mid-day trading, a decline of 38% from the average session volume of 6,679 shares. The stock had previously closed at $24.69.

Eagle Point Credit Stock Performance

The stock’s 50 day simple moving average is $24.14 and its 200 day simple moving average is $23.71.

Eagle Point Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 11th will be issued a $0.1354 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Wednesday, March 11th.

Eagle Point Credit Company Profile

Eagle Point Credit Company (NYSE: ECCC) is a closed-end management investment company that specializes in structured finance assets. Since its formation in January 2018, the company has pursued a strategy aimed at generating current income and capital appreciation by investing in a diversified portfolio of collateralized loan obligations (CLOs) and other structured credit instruments. Eagle Point Credit’s investment mandate encompasses both equity and debt tranches of CLOs, as well as select specialty finance exposures, allowing it to capture opportunities across the capital structure.

The firm’s portfolio is predominantly concentrated in U.S.-domiciled collateral vehicles, with the flexibility to allocate to European and other developed-market credits when attractive risk-adjusted returns are available.