Eagle Point Income (NYSE:EIC) Trading Up 0.4%

Posted by Defense World Staff on Aug 1st, 2023

Eagle Point Income Company Inc. (NYSE:EIC – Get Free Report)’s stock price was up 0.4% during trading on Monday . The company traded as high as $13.44 and last traded at $13.40. Approximately 27,907 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 31,177 shares. The stock had previously closed at $13.35.

Eagle Point Income Price Performance

The business’s 50-day moving average is $13.41 and its 200 day moving average is $14.08.

Eagle Point Income (NYSE:EIC – Get Free Report) last released its quarterly earnings data on Tuesday, May 23rd. The company reported $0.49 earnings per share (EPS) for the quarter. The firm had revenue of $5.50 million during the quarter.

Eagle Point Income Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Friday, August 11th will be given a $0.16 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 14.33%. The ex-dividend date of this dividend is Thursday, August 10th.

Institutional Investors Weigh In On Eagle Point Income

Large investors have recently modified their holdings of the stock. UBS Group AG boosted its stake in shares of Eagle Point Income by 31.4% during the 2nd quarter. UBS Group AG now owns 13,538 shares of the company’s stock valued at $209,000 after purchasing an additional 3,233 shares in the last quarter. LPL Financial LLC bought a new stake in Eagle Point Income during the second quarter worth about $194,000. Susquehanna International Group LLP bought a new stake in Eagle Point Income during the fourth quarter worth about $158,000. PNC Financial Services Group Inc. bought a new stake in Eagle Point Income during the first quarter worth about $106,000. Finally, Black Swift Group LLC boosted its stake in Eagle Point Income by 39.0% during the second quarter. Black Swift Group LLC now owns 270,376 shares of the company’s stock worth $3,566,000 after acquiring an additional 75,879 shares in the last quarter.

About Eagle Point Income

(Get Free Report)

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.