SCHEDULE 13G/A: Karpus Management Discloses 2.04% Stake in Eagle Point Credit Co Preferred Shares

Karpus Management, Inc. has filed an amended Schedule 13G, reporting a 2.04% beneficial ownership stake in the preferred shares of Eagle Point Credit Co Inc. as of February 28, 2025.

Summary

• Karpus Management, Inc., an investment adviser, has filed an Amendment No. 2 to Schedule 13G regarding its beneficial ownership in Eagle Point Credit Co Inc.
• As of February 28, 2025, Karpus Management, Inc. beneficially owns 180,905 preferred shares of Eagle Point Credit Co Inc.
• This ownership represents 2.04% of the outstanding preferred shares of the issuer.
• Karpus Management, Inc. holds sole voting power and sole dispositive power over all 180,905 shares.
• The shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Eagle Point Credit Co Inc.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing (Schedule 13G Amendment) disclosing beneficial ownership. It does not contain information that would significantly alter the perception of the company's financial health or strategic direction, thus maintaining a neutral sentiment.

Positives

• The disclosure of institutional ownership by Karpus Management, Inc. indicates continued investor interest in Eagle Point Credit Co Inc.'s preferred shares.
• The filing confirms that the shares are held in the ordinary course of business, suggesting a passive investment rather than an activist stance.

Risks

• The document certifies that the securities were not acquired or held for the purpose of or with the effect of changing or influencing the control of the issuer, mitigating potential control-related risks from this specific filing.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the issuer's future performance or strategic direction.

Management Comments

• Karpus Management, Inc. certified that the securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.

Industry Context

This filing is a routine disclosure of beneficial ownership by an institutional investment adviser, common in the financial industry for publicly traded companies. It reflects a passive investment in the preferred shares of a company, typical for income-focused portfolios managed by investment advisors.

Stakeholder Impact

• Shareholders: Provides transparency regarding institutional ownership of the company's preferred shares, confirming a passive investment stance by Karpus Management, Inc.

Key Dates

Keywords

Eagle Point Credit Co Inc., Karpus Management, Schedule 13G, beneficial ownership, preferred shares, investment adviser, SEC filing, institutional ownership