Short Interest in Eagle Point Credit Company Inc. (NYSE:ECC) Grows By 10.6%

Eagle Point Credit Company Inc. (NYSE:ECC) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 978,800 shares, a growth of 10.6% from the October 31st total of 885,300 shares. Based on an average daily volume of 969,500 shares, the short-interest ratio is presently 1.0 days.

Institutional Trading of Eagle Point Credit

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sage Capital Advisors llc raised its stake in shares of Eagle Point Credit by 14.1% during the 2nd quarter. Sage Capital Advisors llc now owns 45,937 shares of the investment management company’s stock valued at $462,000 after buying an additional 5,681 shares during the last quarter. Worth Asset Management LLC purchased a new stake in shares of Eagle Point Credit in the second quarter valued at $144,000. Cadent Capital Advisors LLC increased its stake in Eagle Point Credit by 7.8% during the second quarter. Cadent Capital Advisors LLC now owns 451,611 shares of the investment management company’s stock worth $4,539,000 after acquiring an additional 32,666 shares during the last quarter. Nadler Financial Group Inc. increased its position in shares of Eagle Point Credit by 50.0% during the second quarter. Nadler Financial Group Inc. now owns 15,000 shares of the investment management company’s stock worth $151,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Silverleafe Capital Partners LLC bought a new stake in shares of Eagle Point Credit in the 2nd quarter worth approximately $109,000. 19.50% of the stock is currently owned by institutional investors.

Eagle Point Credit Price Performance

NYSE ECC remained flat at $9.09 during trading hours on Monday. 1,058,711 shares of the company were exchanged, compared to its average volume of 872,846. The firm has a 50-day simple moving average of $9.56 and a 200 day simple moving average of $9.86. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. Eagle Point Credit has a 1-year low of $8.89 and a 1-year high of $10.49. The company has a market cap of $699.48 million, a PE ratio of 11.36 and a beta of 0.76.

Eagle Point Credit Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 11th will be given a $0.14 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.68 annualized dividend and a yield of 18.48%. Eagle Point Credit’s dividend payout ratio (DPR) is presently 210.00%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their target price on shares of Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th.

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.