Eagle Point Income Company Inc. (NYSE:EIC) to Issue $0.11 Monthly Dividend

Eagle Point Income Company Inc. (NYSE:EIC) announced a monthly dividend on Thursday, November 13th. Stockholders of record on Wednesday, March 11th will be paid a dividend of 0.11 per share on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend is Wednesday, March 11th.

Eagle Point Income Trading Down 1.5%

EIC stock traded down $0.18 on Friday, reaching $11.81. 106,974 shares of the company were exchanged, compared to its average volume of 252,023. Eagle Point Income has a 12 month low of $11.68 and a 12 month high of $16.39. The stock’s fifty day moving average price is $12.82 and its 200 day moving average price is $13.27.

Eagle Point Income (NYSE:EIC) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03.

Institutional Trading of Eagle Point Income

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its holdings in Eagle Point Income by 97.4% in the second quarter. AdvisorNet Financial Inc now owns 3,322 shares of the company’s stock valued at $45,000 after buying an additional 1,639 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of Eagle Point Income during the 1st quarter valued at $30,000. Cetera Investment Advisers lifted its stake in shares of Eagle Point Income by 17.8% in the 2nd quarter. Cetera Investment Advisers now owns 14,369 shares of the company’s stock valued at $196,000 after purchasing an additional 2,170 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Eagle Point Income by 2.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 99,584 shares of the company’s stock worth $1,361,000 after purchasing an additional 2,754 shares during the last quarter. Finally, Graypoint LLC grew its stake in shares of Eagle Point Income by 1.9% during the first 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.

Eagle Point Income Company Profile

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.