Eagle Point Credit Company (ECC) provided an estimate to its NAV on 11/30/2018, and it was very large decrease of -13.7% (using the midpoint of the range $14.10-14.20) compared to the previous month (-12.5% on a total return basis). Certainly this decrease was much larger than I was expecting.
(Source: ECC)
ECC's month-to-month NAV drop of -13.7% is the worst in the fund's history. The previous record belonged to September 2015 where the NAV declined by -9.7%.
(Source: Stanford Chemist, ECC)
Perhaps anticipating the announcement of a large decrease, ECC sold