Eagle Point Income Company Inc. (NYSE:EIC) Sees Large Growth in Short Interest

Eagle Point Income Company Inc. (NYSE:EIC) was the recipient of a large increase in short interest in the month of 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 trading volume of 179,800 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, B. Riley started coverage on shares of Eagle Point Income in a research note on Tuesday, September 3rd. They set a “buy” rating and a $17.50 price objective on the stock.

Eagle Point Income Stock Performance

NYSE:EIC opened at $15.88 on Friday. Eagle Point Income has a twelve month low of $14.15 and a twelve month high of $16.75. The company has a 50-day moving average of $15.97 and a 200-day moving average of $15.87.

Eagle Point Income Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 11th will be issued a $0.20 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 15.11%. The ex-dividend date of this dividend is Tuesday, March 11th.

Institutional Trading of Eagle Point Income

Hedge funds have recently bought and sold shares of the company. Webster Bank N. A. purchased a new stake in shares of Eagle Point Income in the third quarter valued at $44,000. Main Street Financial Solutions LLC acquired a new position in Eagle Point Income in the second quarter worth approximately $160,000. Virtu Financial LLC acquired a new position in shares of Eagle Point Income during the 1st quarter worth $253,000. Finally, Graypoint LLC increased its position in Eagle Point Income by 3.9% during the second quarter. Graypoint LLC now owns 158,998 shares of the company’s stock worth $2,512,000 after buying an additional 6,035 shares during the last quarter.

About Eagle Point Income

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.