Greetings and welcome to the Eagle Point Credit Company Inc., Third Quarter 2019 Financial Results Call. [Operator Instructions]. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. It is now my pleasure to introduce your host, Mr. Garrett Edson, Senior Vice President, ICR. Thank you. You may begin.
Thank you, Michelle and good morning. By now, everyone should have access to our earnings announcement and investor presentation, which was released prior to this call which may also be found on our website at eaglepointcreditcompany.com. Before we begin our formal remarks, we need to remind everyone that the matters discussed on this call include forward-looking statements or projected financial information that involve risks and uncertainties that may cause the Company's actual results to differ materially from those projected in such forward-looking statements and projected financial information.
For further information on factors that could impact the Company and the statements and projections contained herein, please refer to the Company's filings with the Securities and Exchange Commission. Each forward-looking statement and projection of financial information made during this call is based on information available to us as of the date of this call. We disclaim any obligation to update our forward-looking statements unless required by law. A replay of this call can be accessed for 30 days via the Company's website eaglepointcreditcompany.com.
Earlier today, we filed our Form N-Q, third quarter 2019 financial statements and third quarter investor presentation with the Securities and Exchange Commission. Financial statements in our third quarter investor presentation are also available within the Investor Relations section of the Company's website. The financial statements can be found by following the Financial Statements and Reports link and the investor presentation can be found by following the Presentations and Events link.
I would now like to introduce Tom Majewski, Chief Executive Officer of Eagle Point Credit Company.
Thomas P. Majewski
Great. Thank you, Garrett, and welcome everyone to Eagle Point Credit Company's third quarter earnings call. If you haven't done so already, we invite you to download our investor presentation from our website, which provides additional information about the Company, including information about our portfolio and the underlying corporate loan obligors. As we've done previously, I'll provide some high level commentary on the third quarter, then turn the call over to Ken who will take us through the third quarter financials. I'll then return to talk about the macro environment, our strategy and provide updates on our recent activity and of course, we'll open the call to your questions.
The third quarter overall saw an increase in yields demanded by investors to invest in CLO equity. This was coupled with downward price movement in corporate loans, particularly those rated single B. Against that, recurring cash flows from our investment portfolio remained robust during the quarter. The Company received recurring cash flows of $1.02 per weighted average common share, which is in excess of our distributions and expenses.
Our NAV moved lower during the quarter as CLO equity valuations were pressured by those wider
Senior Vice President, ICR
Thomas P. Majewski
Chief Executive Officer
Kenneth P. Onorio
Chief Financial Officer and Chief Operating Officer
Mickey M. Schleien
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