ECCV - Eagle Point Credit Company Q1: The Fund Continues To Deliver
2024-05-23 18:42:51 ET
Summary
- Eagle Point Credit Company (ECC) is a unique closed-end fund that invests in collateralized loan obligations (CLOs).
- On May 21st, ECC reported first quarter earnings, with ample cash flow and a continuation of the fund's supplemental dividend for common shares.
- ECC's management team provided a positive market update for the CLO market, highlighting low default rates and strong performance of the leveraged loan index.
- Management continues to expand by issuing common and preferred shares, nearly doubling the size of the fund over the past two years.
Today, we dive back into the world of complex securities. Securitized credit is one of the more complex and nuanced corners of the investing universe. Specifically, we are going to discuss the world of collateralized loan obligations of CLOs. These portfolios of secured loans are actively managed and split into tranches with descending priority to cash flow generated by interest....
Eagle Point Credit Company Q1: The Fund Continues To Deliver