Canoe EIT Income Fund (TSE:EIT.UN) Trading 1.5% Higher – Time to Buy?

Canoe EIT Income Fund (TSE:EIT.UN)’s share price shot up 1.5% on Monday . The company traded as high as C$16.74 and last traded at C$16.73. 127,448 shares were traded during trading, a decline of 39% from the average session volume of 209,388 shares. The stock had previously closed at C$16.49.

Canoe EIT Income Fund Stock Up 1.5%

The firm has a market cap of C$3.07 billion, a price-to-earnings ratio of 5.31 and a beta of -0.14. The firm has a fifty day moving average price of C$16.67 and a 200-day moving average price of C$15.92.

Canoe EIT Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, March 13th. Investors of record on Friday, March 13th were given a dividend of $0.10 per share. The ex-dividend date was Monday, February 23rd. This represents a c) annualized dividend and a yield of 7.2%. Canoe EIT Income Fund’s dividend payout ratio is 38.10%.

About Canoe EIT Income Fund

The investment objectives of the Fund are to maximize monthly distributions relative to risk and maximize Net Asset Value, while maintaining and expanding a diversified investment portfolio, primarily through acquiring, investing, holding, transferring, disposing of or otherwise dealing with or in equity and debt securities of corporations, partnerships, or other issuers and such other investments as the Manager may determine in its sole discretion from time to time. The investment objectives set forth above may be achieved through direct acquisitions, investments or, at the election of the Manager, through exchange offers completed by the Fund from time to time.