Mycio Wealth Partners buys $22 Million stake in Eagle Point Credit Company Inc (ECC)

Eagle Point Credit Company Inc (ECC) : Mycio Wealth Partners scooped up 1,849 additional shares in Eagle Point Credit Company Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 1,372,153 shares of Eagle Point Credit Company Inc which is valued at $22 Million.Eagle Point Credit Company Inc makes up approximately 3.91% of Mycio Wealth Partners’s portfolio.

Other Hedge Funds, Including , Bessemer Group Inc boosted its stake in ECC in the latest quarter, The investment management firm added 2,959 additional shares and now holds a total of 8,427 shares of Eagle Point Credit Company Inc which is valued at $134,832.

Many Wall Street Analysts have commented on Eagle Point Credit Company Inc. Shares were Reiterated by Deutsche Bank on Mar 31, 2016 to “Buy” and Lowered the Price Target to $ 18.50 from a previous price target of $19 .

Eagle Point Credit Company Inc. is a non-diversified closed end investment company. The Company’s primary investment objective is to generate high current income with a secondary objective to generate capital appreciation. It seeks to invest in equity and junior debt tranches of collateralized loan obligations (CLOs) with a portfolio of below investment grade United States senior secured loans. The CLO securities in which it will seek to invest are considered speculative with respect to timely payment of interest and repayment of principal. It may also invest in other securities and instruments related to these investments. It invests in various industries such as business equipment and services health care electronics/electrical leisure goods/activities/movies oil and gas lodging and casinos telecommunications financial intermediaries chemicals and plastics and retailers (except food and drug). Eagle Point Credit Management LLC is the investment advisor of the Company.

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