Karpus holds 16.95% of Eagle Point Credit (NYSE: ECC) preferred
Filing Impact
Filing Sentiment
Form Type
SCHEDULE 13G/A
Rhea-AI Filing Summary
Karpus Management, Inc., doing business as Karpus Investment Management, has filed a Schedule 13G/A reporting a significant passive position in Eagle Point Credit Co Inc. preferred shares. Karpus beneficially owns 169,456 preferred shares, representing 16.95% of this class.
Karpus, a New York investment adviser, has sole voting and sole dispositive power over all reported shares, which are held in accounts it manages. The filing states the position is held in the ordinary course of business and not for the purpose of changing or influencing control of Eagle Point Credit.
Positive
- None.
Negative
- None.
FAQ
Is Karpus Management’s stake in Eagle Point Credit (ECC) considered passive or activist?
Karpus describes its Eagle Point Credit preferred stake as passive. The filing states the securities were acquired and are held in the ordinary course of business, not to change or influence control of the issuer, consistent with a Schedule 13G approach.
What type of entity is Karpus Management in relation to the Eagle Point Credit (ECC) filing?
Karpus Management is a New York corporation and a registered investment adviser. It files as an investment adviser holding Eagle Point Credit preferred shares on behalf of client accounts, rather than as an operating company or bank investor.