Belpointe Asset Management LLC Makes New $84,000 Investment in Eagle Point Credit Company Inc. (NYSE:ECC)

Belpointe Asset Management LLC bought a new stake in Eagle Point Credit Company Inc. (NYSE:ECC – Get Rating) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,252 shares of the investment management company’s stock, valued at approximately $84,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of Eagle Point Credit by 492.3% in the third quarter. Tower Research Capital LLC TRC now owns 2,843 shares of the investment management company’s stock worth $31,000 after acquiring an additional 2,363 shares during the last quarter. UBS Group AG increased its holdings in shares of Eagle Point Credit by 20.8% during the 2nd quarter. UBS Group AG now owns 9,066 shares of the investment management company’s stock worth $106,000 after buying an additional 1,559 shares during the last quarter. Stratos Wealth Advisors LLC purchased a new position in shares of Eagle Point Credit in the 4th quarter worth $121,000. Bank of America Corp DE boosted its holdings in Eagle Point Credit by 21.2% in the first quarter. Bank of America Corp DE now owns 9,933 shares of the investment management company’s stock valued at $131,000 after acquiring an additional 1,740 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in Eagle Point Credit during the first quarter valued at about $135,000. 18.95% of the stock is owned by institutional investors and hedge funds.

Eagle Point Credit Price Performance

Eagle Point Credit stock opened at $10.84 on Friday. The company has a market cap of $596.74 million, a price-to-earnings ratio of -4.41 and a beta of 0.86. Eagle Point Credit Company Inc. has a 12 month low of $9.96 and a 12 month high of $13.17. The stock’s 50-day moving average is $11.10 and its 200-day moving average is $10.96.

Eagle Point Credit (NYSE:ECC – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The investment management company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.13). The business had revenue of $32.52 million for the quarter, compared to analysts’ expectations of $30.90 million. Research analysts anticipate that Eagle Point Credit Company Inc. will post 1.57 EPS for the current year.

Eagle Point Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 11th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $1.68 annualized dividend and a yield of 15.50%. Eagle Point Credit’s dividend payout ratio is currently -68.29%.

Eagle Point Credit Company Profile

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Eagle Point Credit Co, Inc is a closed-end investment company. Its investment objective is to generate high current income, and generate capital appreciation by investing primarily in equity and junior debt tranches of CLOs. The company was founded on March 24, 2014 and is headquartered in Greenwich, CT.