17,760 Shares in Eagle Point Credit Company Inc. (NYSE:ECC) Bought by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC acquired a new stake in Eagle Point Credit Company Inc. (NYSE:ECC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,760 shares of the investment management company’s stock, valued at approximately $158,000.

Other hedge funds also recently added to or reduced their stakes in the company. Choreo LLC boosted its stake in shares of Eagle Point Credit by 60.6% during the 4th quarter. Choreo LLC now owns 38,856 shares of the investment management company’s stock worth $344,000 after acquiring an additional 14,669 shares in the last quarter. Money Concepts Capital Corp acquired a new position in shares of Eagle Point Credit during the 4th quarter worth approximately $1,696,000. Union Bancaire Privee UBP SA purchased a new stake in Eagle Point Credit in the 4th quarter valued at $27,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of Eagle Point Credit in the fourth quarter valued at about $98,000. Finally, PFG Investments LLC increased its holdings in shares of Eagle Point Credit by 11.9% during the 4th quarter. PFG Investments LLC now owns 619,399 shares of the investment management company’s stock worth $5,500,000 after buying an additional 65,893 shares during the last quarter. 19.50% of the stock is owned by hedge funds and other institutional investors.

Eagle Point Credit Price Performance

Eagle Point Credit stock opened at $8.71 on Thursday. 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 market capitalization of $670.23 million, a price-to-earnings ratio of 10.89 and a beta of 0.75. The company’s 50 day simple moving average is $8.93 and its 200-day simple moving average is $9.42. Eagle Point Credit Company Inc. has a 1 year low of $8.56 and a 1 year high of $10.49.

Eagle Point Credit Dividend Announcement

The company also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 14th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, January 13th. This represents a dividend yield of 18.88%. Eagle Point Credit’s dividend payout ratio is currently 210.00%.

Analyst Ratings Changes

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

Eagle Point Credit Profile

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.