Short Interest in Eagle Point Credit Company Inc. (NYSE:ECC) Increases By 15.6%

Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 273,200 shares, an increase of 15.6% from the March 31st total of 236,400 shares. Based on an average daily volume of 683,800 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Eagle Point Credit

A number of hedge funds have recently modified their holdings of ECC. Penserra Capital Management LLC purchased a new position in shares of Eagle Point Credit in the third quarter worth $14,629,000. Black Swift Group LLC lifted its holdings in shares of Eagle Point Credit by 970.9% in the third quarter. Black Swift Group LLC now owns 972,370 shares of the investment management company's stock worth $96,000 after buying an additional 881,570 shares in the last quarter. PFG Investments LLC purchased a new stake in Eagle Point Credit during the first quarter valued at $1,815,000. Quadrature Capital Ltd purchased a new stake in Eagle Point Credit during the fourth quarter valued at $1,192,000. Finally, Cadent Capital Advisors LLC raised its stake in Eagle Point Credit by 21.3% during the first quarter. Cadent Capital Advisors LLC now owns 418,945 shares of the investment management company's stock valued at $4,236,000 after purchasing an additional 73,583 shares in the last quarter. 19.50% of the stock is currently owned by institutional investors.

Eagle Point Credit Price Performance

Shares of ECC traded up $0.01 during mid-day trading on Monday, reaching $10.03. The stock had a trading volume of 519,070 shares, compared to its average volume of 683,836. The firm has a market cap of $771.79 million, a price-to-earnings ratio of 5.64 and a beta of 0.77. Eagle Point Credit has a 12 month low of $8.60 and a 12 month high of $11.79. The business has a fifty day moving average of $10.06 and a 200 day moving average of $9.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.60 and a current ratio of 6.60.

Eagle Point Credit (NYSE:ECC - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The investment management company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.05). The firm had revenue of $39.39 million during the quarter, compared to the consensus estimate of $39.10 million. Eagle Point Credit had a return on equity of 14.27% and a net margin of 84.05%. During the same quarter in the previous year, the company earned $0.29 earnings per share. Equities analysts predict that Eagle Point Credit will post 1.39 EPS for the current year.

Eagle Point Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 10th will be given a $0.14 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 16.75%. Eagle Point Credit's payout ratio is currently 94.38%.

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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