Eagle Point Credit Company Inc. (NYSE:ECC) Sees Significant Growth in Short Interest

Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 1,110,000 shares, a growth of 42.5% from the November 30th total of 779,100 shares. Based on an average daily trading volume, of 1,092,700 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of Eagle Point Credit

A number of large investors have recently added to or reduced their stakes in the company. PFG Investments LLC raised its position in shares of Eagle Point Credit by 115.8% during the 2nd quarter. PFG Investments LLC now owns 387,398 shares of the investment management company's stock valued at $3,893,000 after buying an additional 207,875 shares in the last quarter. Wedbush Securities Inc. increased its stake in Eagle Point Credit by 26.2% during the second quarter. Wedbush Securities Inc. now owns 438,276 shares of the investment management company's stock worth $4,405,000 after acquiring an additional 91,058 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Eagle Point Credit during the third quarter valued at approximately $7,600,000. Main Street Financial Solutions LLC lifted its stake in shares of Eagle Point Credit by 95.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 147,447 shares of the investment management company's stock valued at $1,482,000 after purchasing an additional 72,067 shares during the last quarter. Finally, Oxinas Partners Wealth Management LLC boosted its holdings in shares of Eagle Point Credit by 44.0% in the 3rd quarter. Oxinas Partners Wealth Management LLC now owns 177,492 shares of the investment management company's stock worth $1,750,000 after purchasing an additional 54,240 shares during the period. Institutional investors own 19.50% of the company's stock.

Eagle Point Credit Price Performance

ECC stock traded down $0.12 during mid-day trading on Monday, hitting $8.70. The company had a trading volume of 2,213,389 shares, compared to its average volume of 903,037. The company has a 50-day moving average price of $9.24 and a 200 day moving average price of $9.68. Eagle Point Credit has a 12-month low of $8.56 and a 12-month high of $10.49. The company has a market capitalization of $669.45 million, a price-to-earnings ratio of 10.88 and a beta of 0.75. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18.

Eagle Point Credit Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, January 13th. Eagle Point Credit's dividend payout ratio is presently 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.