Eagle Point Credit Company Inc. (NYSE:ECC) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management cut its stake in Eagle Point Credit Company Inc. (NYSE:ECC) by 1.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 76,676 shares of the investment management company’s stock after selling 1,223 shares during the quarter. Financial Advocates Investment Management’s holdings in Eagle Point Credit were worth $681,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Stifel Financial Corp acquired a new stake in shares of Eagle Point Credit during the 3rd quarter worth approximately $149,000. PFG Investments LLC increased its position 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 acquiring an additional 166,108 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings 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 acquiring an additional 52,782 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Eagle Point Credit during the third quarter worth $7,600,000. Finally, Worth Asset Management LLC boosted its position in shares of Eagle Point Credit by 359.7% during the third quarter. Worth Asset Management LLC now owns 65,647 shares of the investment management company’s stock worth $647,000 after buying an additional 51,367 shares during the period. 19.50% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Point Credit Stock Performance

NYSE:ECC opened at $8.96 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. Eagle Point Credit Company Inc. has a 12 month low of $8.56 and a 12 month high of $10.49. The firm has a market capitalization of $689.09 million, a PE ratio of 11.19 and a beta of 0.75. The business’s fifty day moving average price is $8.95 and its 200 day moving average price is $9.45.

Eagle Point Credit Announces Dividend

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

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 research note on Tuesday, January 7th.

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.