Kingsview Wealth Management LLC Reduces Stock Position in Eagle Point Credit Company Inc. (NYSE:ECC)

Kingsview Wealth Management LLC lessened its stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 16.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the investment management company’s stock after selling 1,900 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Eagle Point Credit were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC purchased a new stake in Eagle Point Credit in the 4th quarter valued at about $163,000. Strategic Financial Concepts LLC purchased a new stake in Eagle Point Credit in the 4th quarter valued at about $158,000. Choreo LLC grew its holdings in Eagle Point Credit by 60.6% in the 4th quarter. Choreo LLC now owns 38,856 shares of the investment management company’s stock valued at $344,000 after buying an additional 14,669 shares during the period. Money Concepts Capital Corp purchased a new stake in Eagle Point Credit in the 4th quarter valued at about $1,696,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in Eagle Point Credit in the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 19.50% of the company’s stock.

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 Stock Down 0.3 %

ECC opened at $8.64 on Friday. The firm has a 50 day moving average price of $8.88 and a 200 day moving average price of $9.40. The company has a market cap of $664.46 million, a PE ratio of 10.79 and a beta of 0.75. Eagle Point Credit Company Inc. has a 1 year low of $8.56 and a 1 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.

Eagle Point Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be given a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a yield of 19.46%. The ex-dividend date is Tuesday, June 10th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 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.