Short Interest in Eagle Point Income Company Inc. (NYSE:EIC) Rises By 83.5%

Eagle Point Income Company Inc. (NYSE:EIC) was the target of a large increase in short interest in May. As of May 15th, there was short interest totaling 92,929 shares, an increase of 83.5% from the April 30th total of 50,645 shares. Based on an average daily volume of 146,539 shares, the short-interest ratio is presently 0.6 days.

Eagle Point Income Trading Down 0.5%

Shares of Eagle Point Income stock opened at $10.70 on Tuesday. The business’s fifty day simple moving average is $10.06 and its 200 day simple moving average is $10.55. Eagle Point Income has a 12 month low of $9.17 and a 12 month high of $14.05.

Eagle Point Income Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) annualized dividend and a yield of 12.3%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EIC shares. Zacks Research upgraded Eagle Point Income from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. LADENBURG THALM/SH SH restated a “neutral” rating on shares of Eagle Point Income in a research report on Friday, February 27th. Finally, B. Riley Financial cut their target price on Eagle Point Income from $14.00 to $11.25 and set a “buy” rating on the stock in a research report on Monday, March 16th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.25.

Institutional Investors Weigh In On Eagle Point Income

Several large investors have recently added to or reduced their stakes in EIC. TCTC Holdings LLC lifted its stake in Eagle Point Income by 38.5% during the fourth quarter. TCTC Holdings LLC now owns 3,600 shares of the company’s stock worth $41,000 after purchasing an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Eagle Point Income by 63.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $31,000 after purchasing an additional 1,064 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its stake in Eagle Point Income by 9.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 13,182 shares of the company’s stock worth $132,000 after purchasing an additional 1,090 shares during the last quarter. Raymond James Financial Inc. lifted its stake in Eagle Point Income by 3.6% during the third quarter. Raymond James Financial Inc. now owns 48,471 shares of the company’s stock worth $652,000 after purchasing an additional 1,701 shares during the last quarter. Finally, N.E.W. Advisory Services LLC lifted its stake in Eagle Point Income by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the company’s stock worth $46,000 after purchasing an additional 2,000 shares during the last quarter.

About Eagle Point Income

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.