PFG Investments LLC Increases Position in Eagle Point Credit Company Inc. (NYSE:ECC)

PFG Investments LLC grew its stake in Eagle Point Credit Company Inc. (NYSE:ECC) by 11.9% during the fourth quarter, HoldingsChannel reports. The fund owned 619,399 shares of the investment management company’s stock after acquiring an additional 65,893 shares during the quarter. PFG Investments LLC’s holdings in Eagle Point Credit were worth $5,500,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp purchased a new position in Eagle Point Credit during the 3rd quarter worth $149,000. J.W. Cole Advisors Inc. grew its stake in Eagle Point Credit by 92.6% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 109,774 shares of the investment management company’s stock worth $1,082,000 after buying an additional 52,782 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Eagle Point Credit during the 3rd quarter worth $7,600,000. Worth Asset Management LLC grew its stake in Eagle Point Credit by 359.7% during the 3rd quarter. Worth Asset Management LLC now owns 65,647 shares of the investment management company’s stock worth $647,000 after buying an additional 51,367 shares during the last quarter. Finally, Oxinas Partners Wealth Management LLC grew its stake in Eagle Point Credit by 44.0% during the 3rd quarter. Oxinas Partners Wealth Management LLC now owns 177,492 shares of the investment management company’s stock worth $1,750,000 after buying an additional 54,240 shares during the last quarter. 19.50% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Point Credit Stock Performance

Shares of ECC opened at $8.71 on Monday. The stock has a 50-day moving average of $9.00 and a two-hundred day moving average of $9.52. Eagle Point Credit Company Inc. has a one year low of $8.56 and a one year high of $10.49. 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 stock has a market cap of $669.85 million, a P/E ratio of 10.88 and a beta of 0.75.

Eagle Point Credit Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, B. Riley dropped their target price on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th.

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.