Eagle Point Income (NYSE:EIC) Upgraded at B. Riley

B. Riley upgraded shares of Eagle Point Income (NYSE:EIC) to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Eagle Point Income Price Performance

NYSE:EIC opened at $16.25 on Tuesday. Eagle Point Income has a fifty-two week low of $14.78 and a fifty-two week high of $16.75. The business has a 50 day moving average price of $15.74 and a 200-day moving average price of $15.78.

Eagle Point Income Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, January 13th.

Hedge Funds Weigh In On Eagle Point Income

Several hedge funds and other institutional investors have recently modified their holdings of EIC. Graypoint LLC lifted its stake in Eagle Point Income by 4.0% in the third quarter. Graypoint LLC now owns 165,323 shares of the company’s stock worth $2,665,000 after acquiring an additional 6,325 shares during the period. Webster Bank N. A. bought a new position in Eagle Point Income in the 3rd quarter worth $44,000. Main Street Financial Solutions LLC bought a new position in Eagle Point Income in the 2nd quarter worth $160,000. Finally, Virtu Financial LLC purchased a new stake in shares of Eagle Point Income in the 3rd quarter worth about $216,000.

Eagle Point Income Company Profile

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.