Cadent Capital Advisors LLC Sells 115,644 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

Cadent Capital Advisors LLC trimmed its stake in Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 25.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 334,800 shares of the investment management company's stock after selling 115,644 shares during the period. Eagle Point Credit comprises about 1.0% of Cadent Capital Advisors LLC's investment portfolio, making the stock its 27th largest position. Cadent Capital Advisors LLC owned 0.44% of Eagle Point Credit worth $2,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Webster Bank N. A. bought a new stake in Eagle Point Credit during the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Eagle Point Credit in the third quarter valued at $39,000. McIlrath & Eck LLC bought a new position in shares of Eagle Point Credit in the third quarter valued at about $57,000. EverSource Wealth Advisors LLC acquired a new position in Eagle Point Credit during the 2nd quarter worth about $60,000. Finally, Sunbelt Securities Inc. grew its holdings in Eagle Point Credit by 646.4% during the 2nd quarter. Sunbelt Securities Inc. now owns 7,464 shares of the investment management company's stock worth $75,000 after acquiring an additional 6,464 shares during the last quarter. 19.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Eagle Point Credit Trading Down 2.2 %

ECC traded down $0.20 during mid-day trading on Monday, reaching $8.91. The stock had a trading volume of 780,132 shares, compared to its average volume of 907,135. The firm's fifty day simple moving average is $9.12 and its two-hundred day simple moving average is $9.60. The stock has a market capitalization of $685.61 million, a P/E ratio of 11.14 and a beta of 0.75. Eagle Point Credit Company Inc. has a 52 week low of $8.56 and a 52 week 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 company also recently disclosed a dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 14th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, January 13th. This represents a yield of 18.88%. Eagle Point Credit's dividend payout ratio is currently 210.00%.

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.