Eagle Point Income (NYSE:EIC) Upgraded at B. Riley

Eagle Point Income (NYSE:EIC) was upgraded by B. Riley to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Eagle Point Income Stock Performance

Shares of EIC opened at $16.25 on Tuesday. The company has a 50-day simple moving average of $15.74 and a two-hundred day simple moving average of $15.78. Eagle Point Income has a one year low of $14.78 and a one year high of $16.75.

Hedge Funds Weigh In On Eagle Point Income

A number of institutional investors and hedge funds have recently modified their holdings of the company. Webster Bank N. A. purchased a new position in shares of Eagle Point Income during the 3rd quarter valued at about $44,000. Graypoint LLC raised its position in shares of Eagle Point Income by 4.0% during the 3rd quarter. Graypoint LLC now owns 165,323 shares of the company’s stock valued at $2,665,000 after buying an additional 6,325 shares in the last quarter. Main Street Financial Solutions LLC purchased a new position in shares of Eagle Point Income in the 2nd quarter worth approximately $160,000. Finally, Virtu Financial LLC bought a new position in Eagle Point Income during the third quarter valued at $216,000.

About Eagle Point Income

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.