Eagle Point Credit (NYSE:ECC) Sees Large Volume Increase - Here's What Happened

Shares of Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report) saw an uptick in trading volume on Friday . 1,990,298 shares traded hands during mid-day trading, an increase of 103% from the previous session's volume of 981,439 shares.The stock last traded at $8.73 and had previously closed at $8.80.

Analysts Set New Price Targets

Separately, B. Riley decreased their price objective 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 Stock Down 1.1 %

The stock has a 50 day moving average price of $9.00 and a 200 day moving average price of $9.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. The company has a market capitalization of $669.85 million, a P/E ratio of 10.88 and a beta of 0.75.

Eagle Point Credit Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, January 13th. This represents a dividend yield of 18.88%. Eagle Point Credit's payout ratio is currently 210.00%.

Institutional Trading of Eagle Point Credit

Hedge funds have recently made changes to their positions in the company. PFG Investments LLC increased its holdings in Eagle Point Credit by 42.9% in the 3rd quarter. PFG Investments LLC now owns 553,506 shares of the investment management company's stock worth $5,458,000 after acquiring an additional 166,108 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Eagle Point Credit in the 3rd quarter valued at approximately $7,600,000. Oxinas Partners Wealth Management LLC raised its holdings in Eagle Point Credit by 44.0% during the 3rd quarter. Oxinas Partners Wealth Management LLC now owns 177,492 shares of the investment management company's stock valued at $1,750,000 after acquiring an additional 54,240 shares during the period. J.W. Cole Advisors Inc. lifted its position in shares of Eagle Point Credit by 92.6% during the third quarter. J.W. Cole Advisors Inc. now owns 109,774 shares of the investment management company's stock worth $1,082,000 after acquiring an additional 52,782 shares in the last quarter. Finally, Worth Asset Management LLC boosted its holdings in shares of Eagle Point Credit by 359.7% in the third quarter. Worth Asset Management LLC now owns 65,647 shares of the investment management company's stock worth $647,000 after acquiring an additional 51,367 shares during the period. 19.50% of the stock is currently owned by institutional investors.

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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