Canoe EIT Income Fund (TSE:EIT.UN) Hits New 1-Year High – Here’s Why

Canoe EIT Income Fund (TSE:EIT.UN) reached a new 52-week high on Tuesday . The stock traded as high as C$15.96 and last traded at C$15.96, with a volume of 68366 shares trading hands. The stock had previously closed at C$15.86.

Canoe EIT Income Fund Stock Up 0.6%

The company has a market cap of C$2.94 billion, a P/E ratio of 5.08 and a beta of 0.35. The company has a fifty day moving average of C$15.63 and a 200 day moving average of C$15.48.

Canoe EIT Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 14th were paid a $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date was Wednesday, October 22nd. 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.