Canoe EIT Income Fund (TSE:EIT.UN) Reaches New 52-Week High – What’s Next?

Canoe EIT Income Fund (TSE:EIT.UN) shares reached a new 52-week high on Monday . The company traded as high as C$17.78 and last traded at C$17.78, with a volume of 46568 shares. The stock had previously closed at C$17.69.

Canoe EIT Income Fund Stock Performance

The business’s 50 day moving average price is C$17.36 and its 200-day moving average price is C$16.95. The company has a market cap of C$3.33 billion, a price-to-earnings ratio of 8.93 and a beta of 0.15.

Canoe EIT Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were given a $0.10 dividend. This represents a c) annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Monday, May 25th. Canoe EIT Income Fund’s dividend payout ratio is 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.