Eagle Point Income Company Inc. (NYSE:EIC) Sees Large Decline in Short Interest

Eagle Point Income Company Inc. (NYSE:EIC) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 34,400 shares, a decline of 5.2% from the October 31st total of 36,300 shares. Based on an average daily volume of 184,000 shares, the short-interest ratio is currently 0.2 days.

Analysts Set New Price Targets

Separately, B. Riley assumed coverage on Eagle Point Income in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $17.50 price objective for the company.

Institutional Investors Weigh In On Eagle Point Income

A number of large investors have recently modified their holdings of EIC. Virtu Financial LLC acquired a new stake in Eagle Point Income during the first quarter worth about $253,000. Graypoint LLC lifted its stake in shares of Eagle Point Income by 3.9% in the second quarter. Graypoint LLC now owns 158,998 shares of the company’s stock valued at $2,512,000 after buying an additional 6,035 shares during the period. Main Street Financial Solutions LLC acquired a new stake in shares of Eagle Point Income during the second quarter worth $160,000. Finally, Webster Bank N. A. purchased a new stake in shares of Eagle Point Income during the third quarter valued at approximately $44,000.

Eagle Point Income Trading Down 0.1 %

EIC opened at $15.55 on Tuesday. Eagle Point Income has a 12-month low of $14.18 and a 12-month high of $16.75. The stock has a 50-day moving average price of $15.98 and a 200-day moving average price of $15.85.

Eagle Point Income Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 11th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, March 11th. This represents a $2.40 annualized dividend and a yield of 15.43%.

Eagle Point Income Company Profile

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.