Kestra Private Wealth Services LLC Purchases 3,464 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

Kestra Private Wealth Services LLC raised its holdings in Eagle Point Credit Company Inc. (NYSE:ECC) by 4.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 76,425 shares of the investment management company’s stock after purchasing an additional 3,464 shares during the period. Kestra Private Wealth Services LLC’s holdings in Eagle Point Credit were worth $679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Money Concepts Capital Corp bought a new stake in Eagle Point Credit in the fourth quarter valued at about $1,696,000. PFG Investments LLC raised its holdings in shares of Eagle Point Credit by 42.9% in the 3rd quarter. PFG Investments LLC now owns 553,506 shares of the investment management company’s stock worth $5,458,000 after buying an additional 166,108 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Eagle Point Credit during the 3rd quarter worth approximately $7,600,000. J.W. Cole Advisors Inc. boosted its stake in Eagle Point Credit by 92.6% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 109,774 shares of the investment management company’s stock valued at $1,082,000 after buying an additional 52,782 shares in the last quarter. Finally, Financial Advocates Investment Management grew its position in Eagle Point Credit by 77.2% in the third quarter. Financial Advocates Investment Management now owns 77,899 shares of the investment management company’s stock valued at $768,000 after acquiring an additional 33,938 shares during the period. 19.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley cut their price objective 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 Performance

NYSE ECC opened at $8.64 on Friday. 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 50 day moving average of $8.90 and a 200-day moving average of $9.41. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The firm has a market cap of $664.45 million, a price-to-earnings ratio of 10.79 and a beta of 0.75.

Eagle Point Credit Announces Dividend

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

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.