Eagle Point Credit Company Inc. (NYSE:ECCC) Shares Shorted: Short Interest Down 45.2% in October

Eagle Point Credit Company Inc. (NYSE:ECCC) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 1,036 shares, a decline of 45.2% from the September 30th total of 1,889 shares. Based on an average trading volume of 1,913 shares, the days-to-cover ratio is currently 0.5 days.

Eagle Point Credit Price Performance

ECCC traded down $0.22 during trading on Friday, reaching $24.28. The stock had a trading volume of 2,260 shares, compared to its average volume of 4,879. The stock’s 50 day moving average is $24.71 and its two-hundred day moving average is $24.63. Eagle Point Credit has a one year low of $22.48 and a one year high of $25.50.

Eagle Point Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be paid a dividend of $0.1354 per share. 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 6.7%.

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.