217,600 Shares in Eagle Point Income Company Inc. $EIC Acquired by Bulldog Investors LLP

Bulldog Investors LLP purchased a new stake in Eagle Point Income Company Inc. (NYSE:EIC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 217,600 shares of the company’s stock, valued at approximately $2,054,000.

A number of other hedge funds have also recently made changes to their positions in the company. Flax Pond Capital LLC bought a new position in Eagle Point Income in the 4th quarter worth about $5,160,000. Freestone Capital Holdings LLC purchased a new position in shares of Eagle Point Income during the fourth quarter worth about $707,000. TrueMark Investments LLC purchased a new position in shares of Eagle Point Income during the fourth quarter worth about $171,000. Astoria Portfolio Advisors LLC. increased its position in shares of Eagle Point Income by 17.6% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 12,092 shares of the company’s stock worth $138,000 after purchasing an additional 1,807 shares during the last quarter. Finally, Evolve Private Wealth LLC bought a new position in shares of Eagle Point Income in the fourth quarter worth approximately $122,000.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Eagle Point Income from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Eagle Point Income currently has a consensus rating of “Hold” and an average price target of $11.25.

Eagle Point Income Trading Up 0.8%

Shares of NYSE:EIC opened at $9.96 on Tuesday. Eagle Point Income Company Inc. has a 52-week low of $9.17 and a 52-week high of $13.92. The firm has a fifty day moving average of $10.34 and a 200 day moving average of $10.26.

Eagle Point Income Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be issued a $0.11 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date is Thursday, September 10th.

About Eagle Point Income

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.