Eagle Point Credit Company Inc. (NYSE:ECC) Shares Acquired by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. boosted its position in Eagle Point Credit Company Inc. (NYSE:ECC) by 38.3% during the 4th quarter, Holdings Channel reports. The fund owned 151,809 shares of the investment management company’s stock after acquiring an additional 42,035 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Eagle Point Credit were worth $1,348,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA acquired a new stake in shares of Eagle Point Credit during the 4th quarter worth about $27,000. Legacy Investment Solutions LLC acquired a new stake in Eagle Point Credit during the third quarter worth approximately $39,000. McIlrath & Eck LLC purchased a new stake in shares of Eagle Point Credit during the 3rd quarter worth approximately $57,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of Eagle Point Credit during the 4th quarter worth approximately $98,000. Finally, Stephens Inc. AR acquired a new position in shares of Eagle Point Credit in the 3rd quarter valued at $99,000. Hedge funds and other institutional investors own 19.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley reduced their price target on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Eagle Point Credit Trading Down 0.3 %

NYSE:ECC opened at $8.64 on Tuesday. The company has a market capitalization of $664.46 million, a PE ratio of 10.79 and a beta of 0.75. Eagle Point Credit Company Inc. has a 52-week low of $8.56 and a 52-week high of $10.49. The stock’s 50 day moving average price is $8.88 and its 200 day moving average price is $9.40. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18.

Eagle Point Credit Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 19.46%. Eagle Point Credit’s payout ratio is 210.00%.

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.