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

Eagle Point Income Company Inc. (NYSE:EIC) saw a significant decline in short interest during 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 short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, B. Riley began 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 target on the stock.

Eagle Point Income Price Performance

Eagle Point Income stock opened at $15.41 on Monday. Eagle Point Income has a fifty-two week low of $14.48 and a fifty-two week high of $16.75. The stock has a fifty day moving average of $15.75 and a two-hundred day moving average of $15.77.

Eagle Point Income Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be paid a $0.20 dividend. The ex-dividend date is Monday, January 13th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of Eagle Point Income during the third quarter worth about $216,000. Main Street Financial Solutions LLC acquired a new position in Eagle Point Income in the 2nd quarter valued at $160,000. Graypoint LLC raised its holdings in Eagle Point Income by 4.0% in the 3rd quarter. Graypoint LLC now owns 165,323 shares of the company’s stock valued at $2,665,000 after acquiring an additional 6,325 shares during the last quarter. Finally, Webster Bank N. A. purchased a new position in shares of Eagle Point Income during the 3rd quarter worth $44,000.

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.