Canoe EIT Income Fund (TSE:EIT.UN) Sets New 12-Month High – Time to Buy?

Canoe EIT Income Fund (TSE:EIT.UN) hit a new 52-week high on Thursday . The company traded as high as C$17.29 and last traded at C$17.29, with a volume of 116061 shares. The stock had previously closed at C$17.12.

Canoe EIT Income Fund Stock Up 0.2%

The stock’s 50-day moving average price is C$16.72 and its 200-day moving average price is C$16.30. The company has a market capitalization of C$3.21 billion, a price-to-earnings ratio of 8.62 and a beta of 0.22.

Canoe EIT Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, March 13th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a c) annualized dividend and a yield of 7.0%. Canoe EIT Income Fund’s dividend payout ratio is currently 60.00%.

Canoe EIT Income Fund Company Profile

The investment objectives of the Fund are to maximize monthly distributions relative to risk and maximize Net Asset Value, while maintaining and expanding a diversified investment portfolio, primarily through acquiring, investing, holding, transferring, disposing of or otherwise dealing with or in equity and debt securities of corporations, partnerships, or other issuers and such other investments as the Manager may determine in its sole discretion from time to time. The investment objectives set forth above may be achieved through direct acquisitions, investments or, at the election of the Manager, through exchange offers completed by the Fund from time to time.