Eagle Point Credit Company Inc. (NYSE:ECCC) Short Interest Down 62.5% in June

Eagle Point Credit Company Inc. (NYSE:ECCC) was the target of a large drop in short interest in June. As of June 15th, there was short interest totaling 2,541 shares, a drop of 62.5% from the May 31st total of 6,773 shares. Based on an average daily trading volume, of 5,081 shares, the days-to-cover ratio is currently 0.5 days.

Eagle Point Credit Trading Down 0.4%

Shares of ECCC stock traded down $0.11 during trading hours on Monday, hitting $24.99. The stock had a trading volume of 1,837 shares, compared to its average volume of 6,354. The stock’s 50-day moving average price is $24.61 and its two-hundred day moving average price is $24.53. Eagle Point Credit has a one year low of $22.94 and a one year high of $25.10.

Eagle Point Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.1354 per share. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Thursday, September 10th.

Hedge Funds Weigh In On Eagle Point Credit

An institutional investor recently bought a new stake in Eagle Point Credit stock. Karpus Management Inc. bought a new stake in shares of Eagle Point Credit Company Inc. (NYSE:ECCC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 61,395 shares of the company’s stock, valued at approximately $1,523,000.

About Eagle Point Credit

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.