Eagle Point Income (NYSE:EIC) Stock Price Up 1.5% – Here’s What Happened

Shares of Eagle Point Income Company Inc. (NYSE:EIC) traded up 1.5% on Monday. The company traded as high as $9.47 and last traded at $9.2370. 221,980 shares traded hands during mid-day trading, an increase of 55% from the average daily volume of 143,460 shares. The stock had previously closed at $9.10.

Eagle Point Income Stock Performance

The company has a 50-day moving average of $9.63 and a 200-day moving average of $9.97.

Eagle Point Income (NYSE:EIC) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The firm had revenue of ($3.11) million during the quarter, compared to analyst estimates of $12.15 million.

Eagle Point Income Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, December 11th. This represents a $1.32 annualized dividend and a yield of 14.3%.

Hedge Funds Weigh In On Eagle Point Income

Large investors have recently bought and sold shares of the stock. Advisory Solutions Group LLC bought a new position in Eagle Point Income during the second quarter valued at about $1,476,000. Susquehanna International Group LLP acquired a new position in Eagle Point Income during the 2nd quarter valued at $630,000. Almitas Capital LLC acquired a new stake in shares of Eagle Point Income during the 2nd quarter worth approximately $811,000. Clear Harbor Asset Management LLC bought a new stake in shares of Eagle Point Income in the 2nd quarter worth about $1,048,000. Finally, K2 Principal Fund L.P. acquired a new stake in Eagle Point Income during the 2nd quarter valued at $237,000.

Eagle Point Income Company Profile

Eagle Point Income Company Inc (NYSE:EIC) is a non-diversified, closed-end management investment company focused on generating current income and, secondarily, seeking capital appreciation. The company invests primarily in collateralized loan obligation (CLO) securities and other structured credit investments.

Its portfolio may include debt tranches and equity interests issued by CLOs, which are financial vehicles backed mainly by portfolios of senior secured corporate loans. Through these investments, Eagle Point Income seeks exposure to the cash flows generated by corporate credit markets while maintaining a focus on income-producing assets.

Eagle Point Income is externally managed by Eagle Point Income Management LLC, an affiliate of Eagle Point Credit Management LLC.