Black Swift Group LLC Decreases Stock Holdings in Eagle Point Credit Company Inc. (NYSE:ECC)

Black Swift Group LLC cut its position in Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 91.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,600 shares of the investment management company's stock after selling 887,770 shares during the period. Black Swift Group LLC owned about 0.15% of Eagle Point Credit worth $804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ECC. LPL Financial LLC lifted its holdings in shares of Eagle Point Credit by 12.7% in the 2nd quarter. LPL Financial LLC now owns 11,709 shares of the investment management company's stock worth $138,000 after acquiring an additional 1,319 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Eagle Point Credit by 2.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 62,050 shares of the investment management company's stock valued at $630,000 after purchasing an additional 1,400 shares during the period. Centaurus Financial Inc. increased its position in Eagle Point Credit by 6.4% during the 1st quarter. Centaurus Financial Inc. now owns 24,800 shares of the investment management company's stock valued at $277,000 after purchasing an additional 1,500 shares during the period. UBS Group AG increased its position in Eagle Point Credit by 20.8% during the 2nd quarter. UBS Group AG now owns 9,066 shares of the investment management company's stock valued at $106,000 after purchasing an additional 1,559 shares during the period. Finally, Bank of America Corp DE increased its position in Eagle Point Credit by 21.2% during the 1st quarter. Bank of America Corp DE now owns 9,933 shares of the investment management company's stock valued at $131,000 after purchasing an additional 1,740 shares during the period. Institutional investors own 19.50% of the company's stock.

Eagle Point Credit Stock Up 0.3 %

NYSE ECC traded up $0.04 during trading on Monday, reaching $10.15. 601,980 shares of the company's stock traded hands, compared to its average volume of 682,559. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.60 and a quick ratio of 6.60. The firm has a market cap of $558.48 million, a price-to-earnings ratio of 5.70 and a beta of 0.77. The company's 50 day simple moving average is $10.06 and its two-hundred day simple moving average is $9.79. Eagle Point Credit Company Inc. has a 12-month low of $8.60 and a 12-month high of $11.79.

Eagle Point Credit (NYSE:ECC - Get Free Report) last released 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 net margin of 84.05% and a return on equity of 14.27%. During the same quarter in the prior year, the business posted $0.29 earnings per share. As a group, sell-side analysts forecast that Eagle Point Credit Company Inc. will post 1.42 EPS for the current fiscal year.

Eagle Point Credit Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.14 per share. This represents a $1.68 annualized dividend and a dividend yield of 16.56%. The ex-dividend date of this dividend is Monday, June 10th. Eagle Point Credit's dividend payout ratio (DPR) is 94.38%.

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.

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