Eagle Point Credit (NYSE:ECCC) Shares Up 0% – Time to Buy?

Eagle Point Credit Company Inc. (NYSE:ECCC)’s stock price rose 0% on Friday . The company traded as high as $24.87 and last traded at $24.8410. Approximately 14,784 shares changed hands during trading, an increase of 160% from the average session volume of 5,685 shares. The stock had previously closed at $24.83.

Eagle Point Credit Price Performance

The firm’s 50 day moving average price is $24.84 and its two-hundred day moving average price is $24.59.

Eagle Point Credit Announces Dividend

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

Institutional Investors Weigh In On Eagle Point Credit

An institutional investor recently bought a new position in Eagle Point Credit stock. Karpus Management Inc. purchased a new position in Eagle Point Credit Company Inc. (NYSE:ECCC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 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.