Canoe EIT Income Fund (TSE:EIT.UN) Hits New 12-Month High – Should You Buy?

Canoe EIT Income Fund (TSE:EIT.UN)’s share price reached a new 52-week high on Wednesday . The stock traded as high as C$17.57 and last traded at C$17.52, with a volume of 18447 shares trading hands. The stock had previously closed at C$17.53.

Canoe EIT Income Fund Stock Performance

The firm has a fifty day simple moving average of C$17.24 and a 200 day simple moving average of C$16.82. The company has a market capitalization of C$3.28 billion, a PE ratio of 8.79 and a beta of 0.15.

Canoe EIT Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, May 25th. This represents a c) annualized dividend and a dividend yield of 6.8%. Canoe EIT Income Fund’s dividend payout ratio (DPR) is currently 60.00%.

Canoe EIT Income Fund Company Profile

The investment objectives of the Fund are to maximize monthly distributions relative to risk and maximize Net Asset Value, while maintaining and expanding a diversified investment portfolio, primarily through acquiring, investing, holding, transferring, disposing of or otherwise dealing with or in equity and debt securities of corporations, partnerships, or other issuers and such other investments as the Manager may determine in its sole discretion from time to time. The investment objectives set forth above may be achieved through direct acquisitions, investments or, at the election of the Manager, through exchange offers completed by the Fund from time to time.