Karpus boosts to 5.79% of Eagle Point Credit preferred (NYSE: ECC)
Filing Impact
Filing Sentiment
Form Type
SCHEDULE 13G/A
Rhea-AI Filing Summary
Karpus Management, Inc., doing business as Karpus Investment Management, has filed an amended Schedule 13G reporting beneficial ownership of 61,395 preferred shares of Eagle Point Credit Company Inc.. This stake represents 5.79% of the preferred class identified by CUSIP 269809703.
Karpus, a New York investment adviser controlled by City of London Investment Group plc, reports sole voting and dispositive power over all 61,395 shares and no shared power. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Eagle Point Credit.
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FAQ
What stake in Eagle Point Credit Co Inc. (ECC) does Karpus report?
Karpus Management, Inc. reports beneficial ownership of 61,395 preferred shares of Eagle Point Credit Co Inc. This position represents 5.79% of the relevant preferred share class, giving Karpus a disclosable stake under Schedule 13G ownership reporting rules.
What type of security is covered in this ECC Schedule 13G/A filing?
The filing covers preferred shares of Eagle Point Credit Co Inc., identified as the relevant class of securities. The CUSIP number disclosed is 269809703, which specifically tracks this preferred security class for ownership and reporting purposes.
How large is Karpus’s ownership percentage in ECC preferred stock?
Karpus discloses that its 61,395 preferred shares represent 5.79% of the class. This percentage is significant enough to require a Schedule 13G filing, reflecting a more than five percent beneficial ownership position in the preferred securities.
What does the ECC Schedule 13G/A say about Karpus’s investment intent?
The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Eagle Point Credit. It also notes they are not held in connection with any control-related transaction.
Who controls Karpus Management, Inc. according to the ECC filing?
The filing notes that Karpus is controlled by City of London Investment Group plc (CLIG), listed on the London Stock Exchange. It explains that effective informational barriers mean voting and investment power over the reported securities is exercised by Karpus independently of CLIG.