Eagle Point Income Company Inc. (NYSE:EIC – Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 132,300 shares, a growth of 894.7% from the March 31st total of 13,300 shares. Based on an average daily trading volume, of 129,000 shares, the days-to-cover ratio is currently 1.0 days.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Securities Inc. purchased a new stake in shares of Eagle Point Income in the fourth quarter worth $446,000. Graypoint LLC boosted its stake in Eagle Point Income by 3.9% in the 4th quarter. Graypoint LLC now owns 148,915 shares of the company’s stock worth $2,170,000 after purchasing an additional 5,541 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in Eagle Point Income during the 3rd quarter valued at about $242,000.
Eagle Point Income Stock Performance
Shares of EIC stock opened at $15.46 on Friday. The company’s fifty day moving average price is $15.92 and its 200-day moving average price is $15.09. Eagle Point Income has a 12 month low of $13.00 and a 12 month high of $16.75.
Eagle Point Income Announces Dividend
The business also recently declared a dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 13th will be given a $0.20 dividend. The ex-dividend date is Friday, May 10th.
About Eagle Point Income
About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.
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