Eagle Point Income Company Inc. (NYSE:EIC) Sees Significant Increase in Short Interest

Eagle Point Income Company Inc. (NYSE:EIC) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 65,600 shares, a growth of 74.0% from the December 15th total of 37,700 shares. Based on an average daily trading volume, of 215,800 shares, the short-interest ratio is presently 0.3 days.

Analysts Set New Price Targets

Separately, B. Riley upgraded shares of Eagle Point Income to a “strong-buy” rating in a research note on Tuesday, January 7th.

Hedge Funds Weigh In On Eagle Point Income

A number of institutional investors have recently added to or reduced their stakes in the company. Webster Bank N. A. acquired a new stake in Eagle Point Income in the third quarter valued at $44,000. Virtu Financial LLC acquired a new position in shares of Eagle Point Income during the 3rd quarter worth about $216,000. Finally, Graypoint LLC raised its holdings in shares of Eagle Point Income by 4.0% in the 3rd quarter. Graypoint LLC now owns 165,323 shares of the company’s stock valued at $2,665,000 after purchasing an additional 6,325 shares during the period.

Eagle Point Income Stock Performance

NYSE EIC traded up $0.04 during trading hours on Wednesday, hitting $15.81. 111,830 shares of the company traded hands, compared to its average volume of 236,870. The business’s 50-day moving average is $15.74 and its 200-day moving average is $15.79. Eagle Point Income has a twelve month low of $14.78 and a twelve month high of $16.75.

Eagle Point Income Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 14th will be issued a $0.20 dividend. This represents a dividend yield of 15.17%. The ex-dividend date of this dividend is Monday, January 13th.

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.