Eagle Point Credit Company Inc. (NYSE:ECC – Get Rating) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 574,600 shares, a decline of 18.1% from the July 15th total of 701,400 shares. Based on an average daily volume of 313,800 shares, the days-to-cover ratio is currently 1.8 days.
Institutional Investors Weigh In On Eagle Point Credit
Institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in shares of Eagle Point Credit during the fourth quarter worth $27,000. CoreCap Advisors LLC bought a new stake in Eagle Point Credit in the second quarter valued at about $29,000. Creative Financial Designs Inc. ADV increased its holdings in Eagle Point Credit by 170.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 2,700 shares of the investment management company’s stock valued at $32,000 after purchasing an additional 1,700 shares during the last quarter. UBS Group AG increased its holdings in Eagle Point Credit by 20.8% in the second quarter. UBS Group AG now owns 9,066 shares of the investment management company’s stock valued at $106,000 after purchasing an additional 1,559 shares during the last quarter. Finally, Tompkins Financial Corp bought a new stake in Eagle Point Credit in the first quarter valued at about $128,000. Institutional investors own 21.56% of the company’s stock.
Eagle Point Credit Stock Performance
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Eagle Point Credit stock traded up $0.09 on Friday, reaching $11.27. The company’s stock had a trading volume of 305,408 shares, compared to its average volume of 401,180. The company has a market cap of $465.00 million, a price-to-earnings ratio of 4.86 and a beta of 0.91. The business’s fifty day moving average price is $11.78 and its 200 day moving average price is $12.73. Eagle Point Credit has a twelve month low of $11.00 and a twelve month high of $15.54.
Eagle Point Credit (NYSE:ECC – Get Rating) last released its earnings results on Tuesday, May 24th. The investment management company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The firm had revenue of $26.81 million during the quarter, compared to the consensus estimate of $25.70 million. As a group, equities analysts forecast that Eagle Point Credit will post 1.52 earnings per share for the current year.
Eagle Point Credit Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Thursday, November 10th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, November 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 14.91%. Eagle Point Credit’s payout ratio is currently 65.52%.
Eagle Point Credit Company Profile
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.
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