Short Interest in Eagle Point Income Company Inc. (NYSE:EIC) Grows By 30.6%

Eagle Point Income Company Inc. (NYSE:EIC) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 36,300 shares, an increase of 30.6% from the October 15th total of 27,800 shares. Based on an average daily trading volume, of 179,800 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analyst Weigh In

Separately, B. Riley began coverage on Eagle Point Income in a report on Tuesday, September 3rd. They set a “buy” rating and a $17.50 target price for the company.

Eagle Point Income Stock Performance

Eagle Point Income stock opened at $16.04 on Friday. The firm has a 50-day moving average of $15.97 and a 200-day moving average of $15.86. Eagle Point Income has a one year low of $14.15 and a one year high of $16.75.

Eagle Point Income Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, March 11th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.96%.

Institutional Investors Weigh In On Eagle Point Income

Several hedge funds have recently bought and sold shares of the company. Webster Bank N. A. acquired a new stake in Eagle Point Income in the 3rd quarter valued at about $44,000. Graypoint LLC increased its stake in Eagle Point Income by 3.9% in the second quarter. Graypoint LLC now owns 158,998 shares of the company’s stock valued at $2,512,000 after acquiring an additional 6,035 shares during the last quarter. Main Street Financial Solutions LLC bought a new position in Eagle Point Income in the second quarter valued at approximately $160,000. Finally, Virtu Financial LLC acquired a new stake in Eagle Point Income in the first quarter valued at approximately $253,000.

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.