Eagle Point Credit Company Inc. (NYSE:ECC) Short Interest Down 13.5% in January

Eagle Point Credit Company Inc. (NYSE:ECC) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 864,100 shares, a decrease of 13.5% from the January 15th total of 998,400 shares. Based on an average daily volume of 1,169,100 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On Eagle Point Credit

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ballentine Partners LLC raised its position in Eagle Point Credit by 5.3% in the 3rd quarter. Ballentine Partners LLC now owns 23,158 shares of the investment management company’s stock valued at $228,000 after buying an additional 1,173 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in Eagle Point Credit by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 103,691 shares of the investment management company’s stock valued at $921,000 after purchasing an additional 1,666 shares during the period. Rockefeller Capital Management L.P. grew its stake in Eagle Point Credit by 2.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock valued at $763,000 after purchasing an additional 2,112 shares during the period. Union Bancaire Privee UBP SA bought a new position in Eagle Point Credit in the 4th quarter valued at $27,000. Finally, Kestra Private Wealth Services LLC grew its stake in Eagle Point Credit by 4.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 76,425 shares of the investment management company’s stock valued at $679,000 after purchasing an additional 3,464 shares during the period. 19.50% of the stock is owned by hedge funds and other institutional investors.

Eagle Point Credit Stock Down 0.3 %

NYSE ECC traded down $0.03 on Friday, reaching $8.64. The company had a trading volume of 917,989 shares, compared to its average volume of 910,981. The stock has a market capitalization of $664.46 million, a P/E ratio of 10.79 and a beta of 0.75. The company’s fifty day moving average is $8.88 and its 200 day moving average is $9.40. Eagle Point Credit has a 52-week low of $8.56 and a 52-week high of $10.49. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18.

Eagle Point Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be given a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 19.46%. The ex-dividend date of this dividend is Tuesday, June 10th. Eagle Point Credit’s payout ratio is currently 210.00%.

Analyst Ratings Changes

Separately, B. Riley lowered their target price on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th.

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.