Eagle Point Credit (NYSE:ECC) Reaches New 1-Year Low – Here’s Why

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

Eagle Point Credit Stock Down 1.3 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. The firm’s 50 day moving average is $9.46 and its two-hundred day moving average is $9.79. The firm has a market capitalization of $683.70 million, a P/E ratio of 11.25 and a beta of 0.75.

Eagle Point Credit Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be paid 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%.

Institutional Investors Weigh In On Eagle Point Credit

A number of institutional investors have recently made changes to their positions in ECC. Main Street Financial Solutions LLC boosted its holdings in 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 period. PFG Investments LLC grew its stake in 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 worth $5,458,000 after buying an additional 166,108 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in 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 valued at $1,082,000 after buying an additional 52,782 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Eagle Point Credit in the 3rd quarter valued at approximately $7,600,000. Finally, Worth Asset Management LLC raised its position in 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 valued at $647,000 after purchasing an additional 51,367 shares in the last quarter. Institutional investors own 19.50% of the company’s stock.

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.