Eagle Point Credit (NYSE:ECC) Sees Large Volume Increase – Here’s Why

Shares of Eagle Point Credit Company Inc. (NYSE:ECC) saw unusually-high trading volume on Friday . Approximately 835,553 shares changed hands during trading, an increase of 14% from the previous session’s volume of 733,829 shares.The stock last traded at $9.18 and had previously closed at $9.06.

Eagle Point Credit Stock Up 1.1 %

The firm has a market capitalization of $704.84 million, a price-to-earnings ratio of 11.45 and a beta of 0.75. The firm has a fifty day moving average price of $9.19 and a 200 day moving average price of $9.66. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18.

Eagle Point Credit Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, January 13th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 210.00%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Webster Bank N. A. acquired a new position in Eagle Point Credit during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Eagle Point Credit in the 3rd quarter valued at approximately $39,000. McIlrath & Eck LLC acquired a new stake in shares of Eagle Point Credit in the 3rd quarter valued at approximately $57,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Eagle Point Credit in the 2nd quarter valued at approximately $60,000. Finally, Sunbelt Securities Inc. raised its position in shares of Eagle Point Credit by 646.4% in the 2nd quarter. Sunbelt Securities Inc. now owns 7,464 shares of the investment management company’s stock valued at $75,000 after acquiring an additional 6,464 shares during the period. 19.50% of the stock is currently owned by institutional investors and hedge funds.

About Eagle Point Credit

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.