Eagle Point Income Company Inc. (NYSE:EIC) Announces $0.13 Monthly Dividend

Eagle Point Income Company Inc. (NYSE:EIC) declared a monthly dividend on Tuesday, August 12th. Shareholders of record on Monday, November 10th will be given a dividend of 0.13 per share on Friday, November 28th. This represents a c) annualized dividend and a yield of 12.7%. The ex-dividend date of this dividend is Monday, November 10th.

Eagle Point Income Stock Down 0.5%

Shares of NYSE EIC traded down $0.06 during midday trading on Friday, hitting $12.26. The stock had a trading volume of 85,795 shares, compared to its average volume of 253,614. Eagle Point Income has a fifty-two week low of $12.10 and a fifty-two week high of $16.71. The company’s 50-day simple moving average is $12.96 and its 200 day simple moving average is $13.32.

Eagle Point Income (NYSE:EIC) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $15.27 million for the quarter, compared to analyst estimates of $14.40 million.

Institutional Trading of Eagle Point Income

Hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its holdings in shares of Eagle Point Income by 12.8% in the first quarter. Envestnet Asset Management Inc. now owns 96,830 shares of the company’s stock valued at $1,448,000 after buying an additional 10,961 shares during the period. M&T Bank Corp acquired a new stake in shares of Eagle Point Income during the first quarter worth $175,000. Ballentine Partners LLC bought a new stake in Eagle Point Income in the 1st quarter valued at $187,000. Graypoint LLC boosted its stake in Eagle Point Income by 1.9% in the 1st quarter. Graypoint LLC now owns 200,895 shares of the company’s stock worth $3,003,000 after purchasing an additional 3,759 shares during the period. Finally, Choreo LLC bought a new position in Eagle Point Income during the 1st quarter worth about $1,052,000.

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.