Eagle Point Credit Company Inc. (NYSE:ECCC) Short Interest Up 226.4% in May

Eagle Point Credit Company Inc. (NYSE:ECCC) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 5,134 shares, an increase of 226.4% from the April 30th total of 1,573 shares. Based on an average daily volume of 17,671 shares, the days-to-cover ratio is presently 0.3 days.

Eagle Point Credit Stock Up 0.2%

NYSE ECCC traded up $0.04 during mid-day trading on Friday, hitting $24.82. The stock had a trading volume of 643 shares, compared to its average volume of 6,778. The firm’s 50 day moving average is $24.49 and its 200 day moving average is $24.36. Eagle Point Credit has a twelve month low of $22.42 and a twelve month high of $25.00.

Eagle Point Credit Announces Dividend

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

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 stake in Eagle Point Credit Company Inc. (NYSE:ECCC) in the 4th quarter, according to the company in 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.

Eagle Point Credit Company Profile

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.