Eagle Point Credit (NYSE:ECCC) Trading Down 0.7% – Here’s Why

Shares of Eagle Point Credit Company Inc. (NYSE:ECCC) were down 0.7% during trading on Wednesday . The stock traded as low as $24.35 and last traded at $24.5090. Approximately 4,111 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 6,679 shares. The stock had previously closed at $24.69.

Eagle Point Credit Trading Down 0.7%

The firm’s fifty day moving average is $24.14 and its two-hundred day moving average is $23.71.

Eagle Point Credit Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 11th will be issued a $0.1354 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a c) annualized dividend and a dividend yield of 6.6%.

About Eagle Point Credit

Eagle Point Credit Company (NYSE: ECCC) is a closed-end management investment company that specializes in structured finance assets. Since its formation in January 2018, the company has pursued a strategy aimed at generating current income and capital appreciation by investing in a diversified portfolio of collateralized loan obligations (CLOs) and other structured credit instruments. Eagle Point Credit’s investment mandate encompasses both equity and debt tranches of CLOs, as well as select specialty finance exposures, allowing it to capture opportunities across the capital structure.

The firm’s portfolio is predominantly concentrated in U.S.-domiciled collateral vehicles, with the flexibility to allocate to European and other developed-market credits when attractive risk-adjusted returns are available.