Premium Income (TSE:PIC.A) Stock Price Up 1.9% – Time to Buy?

Premium Income Corporation (TSE:PIC.A) shot up 1.9% during mid-day trading on Wednesday . The company traded as high as C$5.89 and last traded at C$5.87. 44,561 shares traded hands during trading, an increase of 17% from the average session volume of 38,153 shares. The stock had previously closed at C$5.76.

Premium Income Stock Performance

The company has a 50-day moving average of C$6.11 and a 200-day moving average of C$4.89. The company has a market cap of C$113.76 million, a PE ratio of 0.00 and a beta of 1.20. The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 562.70.

About Premium Income

Premium Income Corporation is an equity mutual fund launched and managed by Strathbridge Asset Management Inc It invests in the public equity markets of Canada. It invests in stocks of companies operating primarily in the banking sector. The fund uses financial derivatives such as call and put options to invest in stocks of Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, and Toronto Dominion Bank.