Canoe EIT Income Fund (TSE:EIT.UN) Hits New 1-Year High – What’s Next?

Canoe EIT Income Fund (TSE:EIT.UN)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$17.75 and last traded at C$17.72, with a volume of 23307 shares trading hands. The stock had previously closed at C$17.65.

Canoe EIT Income Fund Price Performance

The company has a market capitalization of C$3.27 billion, a P/E ratio of 8.77 and a beta of 0.15. The company has a fifty day moving average price of C$17.32 and a two-hundred day moving average price of C$16.90.

Canoe EIT Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 25th. This represents a c) annualized dividend and a yield of 6.8%. Canoe EIT Income Fund’s dividend payout ratio (DPR) is currently 60.00%.

About Canoe EIT Income Fund

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.