Eagle Point Credit (NYSE:ECCC) Trading Down 0.3% – Here’s What Happened

Shares of Eagle Point Credit Company Inc. (NYSE:ECCC) traded down 0.3% on Tuesday . The company traded as low as $24.93 and last traded at $24.93. Approximately 2,171 shares were traded during mid-day trading, a decline of 67% from the average session volume of 6,525 shares. The stock had previously closed at $25.01.

Eagle Point Credit Stock Performance

The firm has a 50 day moving average price of $24.56 and a 200-day moving average price of $24.50.

Eagle Point Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.1354 per share. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date is Thursday, September 10th.

Institutional Trading of Eagle Point Credit

A hedge fund recently bought a new stake in Eagle Point Credit stock. Karpus Management Inc. acquired a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECCC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 61,395 shares of the company’s stock, valued at approximately $1,523,000.

Eagle Point Credit Company Profile

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.