Karpus Management (ECC) Discloses 16.85% Stake in Preferred Shares
Rhea-AI Filing Summary
Eagle Point Credit Co. (ECC) ownership update: Karpus Management, Inc. reports 168,456 Preferred shares, representing 16.85% of the class (CUSIP 269809802), held in accounts it manages. The filing is an Amendment No. 2 to a Schedule 13G/A and is signed on 05/14/2026.
The disclosure states Karpus is a registered investment adviser under Section 203 of the Investment Advisers Act and that the shares are owned directly by accounts managed by Karpus. It cites SEC Release No. 34-39538 concerning informational barriers to CLIG attribution.
Positive
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Negative
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Insights
Large passive stake disclosed by an investment adviser.
Karpus Management reports beneficial ownership of 16.85% of the Preferred class (168,456 shares) as of the amendment filing. The position is held in managed accounts and is presented under a Schedule 13G/A structure, which typically signals institutional, potentially passive, ownership.
The filing cites SEC Release No. 34-39538 and states informational barriers separate Karpus from CLIG, indicating no attribution to the parent. Subsequent filings or amendments would show changes; timing and cash-flow treatment are not detailed in the excerpt.
Disclosure aligns with adviser reporting and attribution guidance.
The statement notes Karpus is a registered adviser under Section 203 and references the SEC release permitting informational barriers; this explains why beneficial ownership is reported for Karpus-managed accounts rather than CLIG. The filing identifies the security by CUSIP 269809802.
For regulatory tracking, watch for future amendments showing changes in percentage or share count; the amendment is signed 05/14/2026 by the Chief Compliance Officer.