Eagle Point Income (NYSE:EIC) Stock Falls 2% – What’s Next?

Shares of Eagle Point Income Company Inc. (NYSE:EIC) fell 2% during trading on Monday. The company traded as low as $9.22 and last traded at $9.2270. Approximately 63,829 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 136,617 shares. The stock had previously closed at $9.42.

Eagle Point Income Stock Performance

The company’s 50-day moving average is $9.90 and its two-hundred day moving average is $10.01.

Eagle Point Income (NYSE:EIC) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The firm had revenue of ($3.11) million for the quarter, compared to analyst estimates of $12.15 million.

Eagle Point Income Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 11th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, December 11th. This represents a $1.32 annualized dividend and a dividend yield of 14.3%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Eagle Point Income by 63.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $31,000 after purchasing an additional 1,064 shares in the last quarter. Astoria Portfolio Advisors LLC. raised its holdings in shares of Eagle Point Income by 9.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 13,182 shares of the company’s stock worth $132,000 after buying an additional 1,090 shares in the last quarter. TrueMark Investments LLC raised its holdings in shares of Eagle Point Income by 26.7% during the 1st quarter. TrueMark Investments LLC now owns 19,011 shares of the company’s stock worth $179,000 after buying an additional 4,011 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Eagle Point Income during the 2nd quarter worth $194,000. Finally, K2 Principal Fund L.P. bought a new stake in shares of Eagle Point Income during the 2nd quarter worth $237,000.

Eagle Point Income Company Profile

Eagle Point Income Company (NYSE: EIC) is a non-diversified closed-end management investment company focused on generating current income and, secondarily, achieving total returns. The company invests primarily in floating-rate credit instruments and other income-producing assets.

Its portfolio is centered on collateralized loan obligations (CLOs), including senior and junior debt tranches and, to a lesser extent, CLO equity interests. Eagle Point Income may also invest in corporate loans, high-yield bonds, structured finance securities and other credit-related investments.