Canoe EIT Income Fund (TSE:EIT.UN) Stock Falls 0.2% – Should You Sell?

Shares of Canoe EIT Income Fund (TSE:EIT.UN) fell 0.2% during trading on Monday. The stock traded as low as C$17.53 and last traded at C$17.80. 95,252 shares changed hands during trading, a decline of 42% from the average daily volume of 163,414 shares. The stock had previously closed at C$17.84.

Canoe EIT Income Fund Trading Up 0.1%

The firm has a market capitalization of C$3.43 billion, a P/E ratio of 5.92 and a beta of 0.26. The business has a 50-day moving average of C$17.59 and a 200 day moving average of C$17.36.

Canoe EIT Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Thursday, October 22nd. Canoe EIT Income Fund’s payout ratio is 39.87%.

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.