Eagle Point Income Company Inc. (NYSE:EIC) Short Interest Down 34.2% in December

Eagle Point Income Company Inc. (NYSE:EIC) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 37,700 shares, a decline of 34.2% from the November 30th total of 57,300 shares. Based on an average trading volume of 202,300 shares, the days-to-cover ratio is presently 0.2 days.

Eagle Point Income Stock Up 0.1 %

Shares of EIC stock opened at $15.41 on Monday. Eagle Point Income has a 1-year low of $14.48 and a 1-year high of $16.75. The business’s fifty day moving average price is $15.75 and its 200 day moving average price is $15.77.

Eagle Point Income Announces Dividend

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

Institutional Trading of Eagle Point Income

Several hedge funds and other institutional investors have recently made changes to their positions in EIC. Webster Bank N. A. purchased a new position in Eagle Point Income in the third quarter valued at about $44,000. Main Street Financial Solutions LLC purchased a new position in Eagle Point Income in the 2nd quarter valued at approximately $160,000. Virtu Financial LLC acquired a new position in Eagle Point Income during the third quarter worth $216,000. Finally, Graypoint LLC boosted 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 purchasing an additional 6,035 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, B. Riley initiated coverage on shares of Eagle Point Income in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $17.50 price objective for the company.

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.