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

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

Eagle Point Credit Trading Down 0.8 %

The firm has a market cap of $673.30 million, a price-to-earnings ratio of 10.94 and a beta of 0.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. The company has a 50 day moving average price of $9.39 and a 200 day moving average price of $9.76.

Eagle Point Credit Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, January 31st. Shareholders 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 (DPR) is presently 210.00%.

Institutional Investors Weigh In On Eagle Point Credit

A number of institutional investors and hedge funds have recently made changes to their positions in ECC. McIlrath & Eck LLC acquired a new stake in Eagle Point Credit in the 3rd quarter valued at approximately $57,000. Legacy Investment Solutions LLC purchased a new position in shares of Eagle Point Credit during the third quarter worth $39,000. Stifel Financial Corp acquired a new stake in shares of Eagle Point Credit in the third quarter valued at $149,000. Rockefeller Capital Management L.P. raised its holdings in shares of Eagle Point Credit by 2.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock valued at $763,000 after buying an additional 2,112 shares during the period. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of Eagle Point Credit by 10.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 91,924 shares of the investment management company’s stock valued at $889,000 after buying an additional 8,719 shares during the period. 19.50% of the stock is owned by hedge funds and other institutional investors.

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.