Eagle Point Credit (NYSE:ECC) Sets New 12-Month Low – Here’s Why

Shares of Eagle Point Credit Company Inc. (NYSE:ECC) hit a new 52-week low on Monday . The company traded as low as $8.86 and last traded at $8.88, with a volume of 1850817 shares trading hands. The stock had previously closed at $9.00.

Eagle Point Credit Stock Down 0.8 %

The stock has a market cap of $673.30 million, a price-to-earnings ratio of 10.94 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. The business’s fifty day moving average is $9.39 and its two-hundred day moving average is $9.76.

Eagle Point Credit Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, January 13th. Eagle Point Credit’s dividend payout ratio is currently 210.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Silverleafe Capital Partners LLC acquired a new stake in Eagle Point Credit in the 2nd quarter valued at about $109,000. Financial Advocates Investment Management lifted its stake in Eagle Point Credit by 13.0% in the second quarter. Financial Advocates Investment Management now owns 43,961 shares of the investment management company’s stock worth $442,000 after acquiring an additional 5,048 shares during the last quarter. TrueMark Investments LLC acquired a new position in Eagle Point Credit during the 2nd quarter worth approximately $1,444,000. Commonwealth Equity Services LLC increased its position in shares of Eagle Point Credit by 11.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 119,238 shares of the investment management company’s stock valued at $1,198,000 after purchasing an additional 11,925 shares during the last quarter. Finally, Essex Financial Services Inc. raised its holdings in shares of Eagle Point Credit by 8.6% in the 2nd quarter. Essex Financial Services Inc. now owns 26,764 shares of the investment management company’s stock valued at $271,000 after purchasing an additional 2,127 shares in the last quarter. 19.50% of the stock is currently owned by hedge funds and other 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.