Eagle Point Credit Company Inc. (NYSE:ECC) Sees Significant Growth in Short Interest

Eagle Point Credit Company Inc. (NYSE:ECC) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,110,000 shares, an increase of 42.5% from the November 30th total of 779,100 shares. Based on an average trading volume of 1,092,700 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On Eagle Point Credit

Several institutional investors have recently made changes to their positions in ECC. PFG Investments LLC grew its position in shares of Eagle Point Credit by 115.8% in the second quarter. PFG Investments LLC now owns 387,398 shares of the investment management company’s stock valued at $3,893,000 after purchasing an additional 207,875 shares in the last quarter. Wedbush Securities Inc. grew its holdings in Eagle Point Credit by 26.2% during the 2nd quarter. Wedbush Securities Inc. now owns 438,276 shares of the investment management company’s stock valued at $4,405,000 after buying an additional 91,058 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Eagle Point Credit during the third quarter valued at about $7,600,000. Main Street Financial Solutions LLC lifted its holdings in shares of Eagle Point Credit by 95.6% in the second quarter. Main Street Financial Solutions LLC now owns 147,447 shares of the investment management company’s stock worth $1,482,000 after buying an additional 72,067 shares in the last quarter. Finally, Oxinas Partners Wealth Management LLC boosted its position in shares of Eagle Point Credit by 44.0% in the third quarter. Oxinas Partners Wealth Management LLC now owns 177,492 shares of the investment management company’s stock valued at $1,750,000 after acquiring an additional 54,240 shares during the period. Hedge funds and other institutional investors own 19.50% of the company’s stock.

Eagle Point Credit Stock Performance

Shares of ECC traded down $0.12 during trading hours on Monday, hitting $8.70. The company’s stock had a trading volume of 2,213,389 shares, compared to its average volume of 903,037. The company has a market cap of $669.45 million, a price-to-earnings ratio of 10.88 and a beta of 0.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. The business has a 50 day simple moving average of $9.26 and a two-hundred day simple moving average of $9.69. Eagle Point Credit has a 52-week low of $8.56 and a 52-week high of $10.49.

Eagle Point Credit Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, January 13th. Eagle Point Credit’s payout ratio is 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.