Premium Income Corporation (TSE:PIC.A – Get Rating)’s stock price dropped 50.2% during mid-day trading on Tuesday . The company traded as low as C$7.03 and last traded at C$7.07. Approximately 14,419 shares changed hands during trading, a decline of 41% from the average daily volume of 24,493 shares. The stock had previously closed at C$14.19.
Premium Income Stock Performance
The company has a debt-to-equity ratio of 223.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm’s 50 day moving average is C$7.00 and its 200-day moving average is C$7.69. The firm has a market cap of C$93.34 million and a price-to-earnings ratio of 4.31.
About Premium Income
Premium Income Corporation is an equity mutual fund launched and managed by Strathbridge Asset Management Inc It invests in the public equity markets of Canada. It invests in stocks of companies operating primarily in the banking sector. The fund uses financial derivatives such as call and put options to invest in stocks of Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, and Toronto Dominion Bank.
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