Eagle Point Credit (NYSE:ECC) Reaches New 1-Year Low – What’s Next?

Eagle Point Credit Company Inc. (NYSE:ECC)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $8.56 and last traded at $8.71, with a volume of 717183 shares trading hands. The stock had previously closed at $8.82.

Eagle Point Credit Stock Down 1.4 %

The company has a market cap of $669.45 million, a price-to-earnings ratio of 10.88 and a beta of 0.75. The firm has a 50-day moving average price of $9.26 and a 200 day moving average price of $9.69. 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 Dividend Announcement

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

Institutional Trading of Eagle Point Credit

A number of institutional investors have recently bought and sold shares of ECC. Main Street Financial Solutions LLC lifted its position in shares of Eagle Point Credit by 95.6% during 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 acquiring an additional 72,067 shares during the period. PFG Investments LLC raised its stake in Eagle Point Credit by 42.9% in the third quarter. PFG Investments LLC now owns 553,506 shares of the investment management company’s stock valued at $5,458,000 after purchasing an additional 166,108 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in Eagle Point Credit by 92.6% during the third quarter. J.W. Cole Advisors Inc. now owns 109,774 shares of the investment management company’s stock worth $1,082,000 after purchasing an additional 52,782 shares during the period. International Assets Investment Management LLC acquired a new stake in Eagle Point Credit during the third quarter worth about $7,600,000. Finally, Worth Asset Management LLC increased its holdings in Eagle Point Credit by 359.7% in the 3rd quarter. Worth Asset Management LLC now owns 65,647 shares of the investment management company’s stock valued at $647,000 after buying an additional 51,367 shares during the period. 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.