Eagle Point Credit Company Inc. (NYSE:ECC) Short Interest Update

Eagle Point Credit Company Inc. (NYSE:ECC) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 864,100 shares, a decline of 13.5% from the January 15th total of 998,400 shares. Based on an average trading volume of 1,169,100 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Ballentine Partners LLC grew its holdings in shares of Eagle Point Credit by 5.3% in the third quarter. Ballentine Partners LLC now owns 23,158 shares of the investment management company’s stock valued at $228,000 after purchasing an additional 1,173 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Eagle Point Credit by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 103,691 shares of the investment management company’s stock valued at $921,000 after buying an additional 1,666 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Eagle Point Credit by 2.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock valued at $763,000 after buying an additional 2,112 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Eagle Point Credit during the 4th quarter worth $27,000. Finally, Kestra Private Wealth Services LLC boosted its stake in Eagle Point Credit by 4.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 76,425 shares of the investment management company’s stock worth $679,000 after purchasing an additional 3,464 shares during the period. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Price Performance

Eagle Point Credit stock opened at $8.64 on Tuesday. The company’s 50 day simple moving average is $8.87 and its 200-day simple moving average is $9.39. The company has a market capitalization of $664.46 million, a price-to-earnings ratio of 10.81 and a beta of 0.75. Eagle Point Credit has a 1 year low of $8.56 and a 1 year high of $10.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27.

Eagle Point Credit Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 19.46%. The ex-dividend date of this dividend is Tuesday, June 10th. Eagle Point Credit’s dividend payout ratio (DPR) is currently 210.00%.

Analyst Upgrades and Downgrades

Separately, B. Riley reduced their price target on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th.

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.