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

Eagle Point Income Company Inc. (NYSE:EIC) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 132,300 shares, a growth of 894.7% from the March 31st total of 13,300 shares. Based on an average trading volume of 129,000 shares, the days-to-cover ratio is presently 1.0 days.

Eagle Point Income Trading Down 1.0 %

Shares of NYSE:EIC traded down $0.15 on Thursday, reaching $15.46. The company had a trading volume of 185,570 shares, compared to its average volume of 128,693. Eagle Point Income has a 52-week low of $13.00 and a 52-week high of $16.75. The firm’s 50 day simple moving average is $15.92 and its 200-day simple moving average is $15.09.

Eagle Point Income (NYSE:EIC) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.54 earnings per share (EPS) for the quarter. The company had revenue of $8.52 million during the quarter.

Eagle Point Income Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 13th will be issued a $0.20 dividend. The ex-dividend date is Friday, May 10th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. purchased a new position in Eagle Point Income during the 3rd quarter worth $242,000. Principal Securities Inc. purchased a new stake in Eagle Point Income during the 4th quarter valued at about $446,000. Finally, Graypoint LLC purchased a new stake in Eagle Point Income during the 3rd quarter valued at about $2,043,000.

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.