Flax Pond Capital LLC Increases Position in Eagle Point Income Company Inc. $EIC

Flax Pond Capital LLC grew its position in Eagle Point Income Company Inc. (NYSE:EIC) by 33.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 603,019 shares of the company’s stock after buying an additional 150,815 shares during the period. Eagle Point Income makes up 4.6% of Flax Pond Capital LLC’s portfolio, making the stock its 4th largest position. Flax Pond Capital LLC’s holdings in Eagle Point Income were worth $5,692,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Rivernorth Capital Management LLC raised its stake in Eagle Point Income by 47.4% during the 1st quarter. Rivernorth Capital Management LLC now owns 774,059 shares of the company’s stock worth $7,307,000 after buying an additional 248,933 shares during the period. Bulldog Investors LLP acquired a new position in Eagle Point Income in the first quarter valued at about $2,054,000. Astoria Portfolio Advisors LLC. grew its stake in Eagle Point Income by 9.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 13,182 shares of the company’s stock valued at $132,000 after acquiring an additional 1,090 shares during the period. TrueMark Investments LLC increased its holdings in shares of Eagle Point Income by 26.7% in the first quarter. TrueMark Investments LLC now owns 19,011 shares of the company’s stock worth $179,000 after acquiring an additional 4,011 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Eagle Point Income in the fourth quarter worth about $483,000.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Eagle Point Income from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Eagle Point Income has a consensus rating of “Hold” and an average target price of $11.25.

Eagle Point Income Trading Up 0.8%

Eagle Point Income stock opened at $9.98 on Friday. Eagle Point Income Company Inc. has a twelve month low of $9.17 and a twelve month high of $13.92. The company has a 50 day moving average of $10.22 and a 200-day moving average of $10.18.

Eagle Point Income Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 13.2%.

Eagle Point Income Profile

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.