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Eagle Point Credit Company Inc. 6.75% NT DE 2027 (ECCY)

NYSE - Nasdaq Real Time Price. Currency in USD
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25.190.00 (0.00%)
At close: 05:00PM EDT

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  • P
    Am new to CEF’s but have held 1k shares at $14 since last Nov. So aside from the few dollar drop but increased dividend monthly, help a noob know from more seasoned CEF or dividend investors the downsides please. Morningstar gives this a 1 star rating and there are other similarly priced/similar monthly dividend plays out there with 3 stars . Should I buy more shares (1500) in this, or something similar at my age of 64 retired? Sure I hold some mutuals and etf’s and some cash. Wife still working. Not reinvesting the dividends, and they are in an IRA. Won’t take Sos Sec for 2 more years. Thank you very much.
  • T
    Buying more today in the ira. 11.26? Some big player dumping it seems. So the made up fantasy payroll numbers got everyone scared about interest rate rising? Most of the loan portfolio here is adjustable as I recall. I’m sure loss allowance will need to increase but seems today is the usual overreaction. I’ve noticed this pattern just before the ex date for several months so I think we holders of this money pump are just being played.
  • d
    Quiet. Happy I've been able to add in the mid $11s. Not sure why.
  • J
    Does anyone know about a special div coming later on 22?
  • M
    Been through many recessions the past 40 years. It will take til 2023 before profits start to improve. As rates go up so do new loan rates and more profit. I still remember rates as high as 24%.
  • L
    what now? Going down because....?
  • K
    ECC didn't appear to be showing strain in the last earnings, potential special $12.40 and below this is a buy barring full out economic collapse....then we have bigger issues.
  • L
    I am in! Looking forward to a potential special dividend too!
  • K
    anyone missing their ECC div with TD? Still hasn't shown up yet.
  • K
    From the conference call today, potential for a special dividend late summer/year:
    To sum up, net investment income and realized gains, excluding nonrecurring items, once again exceeded our regular common distributions in the first quarter. We raised our monthly common distribution by 17% to $0.14 per share beginning in April, and that distribution rate has continued into the third quarter.

    We paid a $0.50 special distribution back in January with a potential for one more special distribution later this year, we'll know that once we've finalized our taxable income for 2021 at some point over the summer.
  • D
    my Roth won't let me buy this
  • g
    Regarding the monthly div that was increased a few months ago, does Eagle use a published method in calculating what they pay, or is it just random?
  • J
    I took the plunge a few days ago with 1000 shares, primarily looking for the dividend but certainly won't turn down any appreciation in stock price.
  • J
    ECC have a DRIP at NAV? I'm guessing no because I can't find ECC NAV price.
  • o
    ECC has the number of shares reported each quarter on its web site (along with the NAV).
    It has added 4 million shares in the last 9 months (or 16% dilution of the NAV).
    ECC are on pace to dilute the NAV by 20% in 2019.
    So they are paying you about 15% per year - but diluting the value of your existing shares by over 20% per year.
    Are you really getting paid in this situation?

    If you are expecting the NAV to bounce back next year, ask yourself what happens if the assets fully
    recover their original value after 2 years - but you now have to share those fully recovered assets with 40% additional people.
  • K
    ECC had great guidance last earnings. I'm not seeing what changed - they were well aware of rising rates etc....I think we are seeing bargain prices.
  • J
    What is the reason for the sell off today, don't see any news,
  • K
    Does anyone have any thoughts on the market price drop? I would think with meeting guidance, raising dividend etc. that we would be on the rise. Pushing towards the 12 range isn't making much sense when we were at $15 no that long ago.
  • R
    Big move in price the last 4 trading days. 18.05 up to 19.04. Does that mean there may be a dividend increase on the way?
  • R
    NAV per common share as of April 30, 2022 was between $12.44 and $12.54. It was $13.39 as of December 31, 2021 so dropped 7% ish, which is what we're down today in share price