Eagle Point Credit (NYSE:ECC) Sets New 12-Month Low – Here’s Why

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

Eagle Point Credit Price Performance

The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The firm has a market cap of $669.45 million, a P/E ratio of 10.88 and a beta of 0.75. The business has a 50-day moving average of $9.26 and a two-hundred day moving average of $9.69.

Eagle Point Credit Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, January 13th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 210.00%.

Institutional Investors Weigh In On Eagle Point Credit

Institutional investors have recently made changes to their positions in the stock. Webster Bank N. A. acquired a new stake in Eagle Point Credit during the third quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new stake in shares of Eagle Point Credit in the 3rd quarter valued at $39,000. McIlrath & Eck LLC bought a new stake in shares of Eagle Point Credit in the 3rd quarter valued at $57,000. EverSource Wealth Advisors LLC acquired a new position in shares of Eagle Point Credit during the 2nd quarter valued at $60,000. Finally, Sunbelt Securities Inc. grew its holdings in Eagle Point Credit by 646.4% in the second quarter. Sunbelt Securities Inc. now owns 7,464 shares of the investment management company’s stock worth $75,000 after purchasing an additional 6,464 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.