Eagle Point Credit (NYSE:ECCC) Stock Jumps 1% – Here’s What Happened

Eagle Point Credit Company Inc. (NYSE:ECCC) shares traded up 1% during mid-day trading on Friday. The stock traded as high as $23.35 and last traded at $23.5350. Approximately 285 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 4,920 shares. The stock had previously closed at $23.30.

Eagle Point Credit Price Performance

The business has a fifty day moving average price of $24.85 and a 200 day moving average price of $24.74.

Eagle Point Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 11th will be given a $0.1354 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 6.9%.

Eagle Point Credit Company Profile

Eagle Point Credit Company Inc is a closed-end management investment company focused primarily on investments in collateralized loan obligations (CLOs). CLOs are structured investment vehicles backed largely by portfolios of senior secured loans made to companies with below-investment-grade credit ratings.

The company seeks to generate current income and, to a lesser extent, capital appreciation through investments in CLO equity and debt tranches. Its portfolio may also include other credit-related instruments, including corporate debt securities and loans.