Eagle Point Income Company Inc. (NYSE:EIC – Get Rating) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,900 shares, an increase of 216.7% from the April 30th total of 600 shares. Based on an average daily volume of 19,700 shares, the short-interest ratio is presently 0.1 days.
Several hedge funds have recently added to or reduced their stakes in EIC. Bard Associates Inc. raised its holdings in Eagle Point Income by 2.0% in the 1st quarter. Bard Associates Inc. now owns 128,645 shares of the company’s stock worth $2,168,000 after purchasing an additional 2,540 shares during the period. Black Swift Group LLC raised its holdings in Eagle Point Income by 14.0% during the first quarter. Black Swift Group LLC now owns 22,728 shares of the company’s stock valued at $383,000 after acquiring an additional 2,796 shares during the period. Finally, PNC Financial Services Group Inc. bought a new stake in Eagle Point Income during the first quarter valued at about $106,000.
Shares of EIC stock traded up $0.04 on Thursday, reaching $15.00. The stock had a trading volume of 200 shares, compared to its average volume of 17,000. Eagle Point Income has a 1 year low of $14.75 and a 1 year high of $19.53. The company has a 50 day simple moving average of $16.38 and a 200 day simple moving average of $16.92.
About Eagle Point Income (Get Rating)
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.
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