Money Concepts Capital Corp Acquires New Position in Eagle Point Credit Company Inc. (NYSE:ECC)

Money Concepts Capital Corp bought a new position in Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 191,039 shares of the investment management company's stock, valued at approximately $1,696,000. Money Concepts Capital Corp owned about 0.25% of Eagle Point Credit at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Stifel Financial Corp bought a new position in shares of Eagle Point Credit in the 3rd quarter worth approximately $149,000. PFG Investments LLC lifted its holdings in shares of Eagle Point Credit by 42.9% during the third quarter. PFG Investments LLC now owns 553,506 shares of the investment management company's stock valued at $5,458,000 after purchasing an additional 166,108 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Eagle Point Credit by 92.6% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 109,774 shares of the investment management company's stock worth $1,082,000 after purchasing an additional 52,782 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Eagle Point Credit in the third quarter worth $7,600,000. Finally, Worth Asset Management LLC grew its position in Eagle Point Credit by 359.7% during the 3rd quarter. Worth Asset Management LLC now owns 65,647 shares of the investment management company's stock valued at $647,000 after purchasing an additional 51,367 shares during the last quarter. 19.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley cut their price target on shares of Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th.

Eagle Point Credit Stock Performance

Shares of NYSE:ECC traded up $0.05 during midday trading on Friday, reaching $8.96. 1,404,827 shares of the company's stock traded hands, compared to its average volume of 910,981. 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 cap of $689.09 million, a price-to-earnings ratio of 11.19 and a beta of 0.75. The stock has a 50 day moving average of $8.95 and a 200 day moving average of $9.44. Eagle Point Credit Company Inc. has a one year low of $8.56 and a one year high of $10.49.

Eagle Point Credit Dividend Announcement

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