Short Interest in Eagle Point Income Company Inc. (NYSE:EIC) Declines By 42.3%

Eagle Point Income Company Inc. (NYSE:EIC) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 36,290 shares, a decrease of 42.3% from the June 30th total of 62,916 shares. Based on an average daily trading volume, of 110,910 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of Eagle Point Income

Several institutional investors have recently bought and sold shares of EIC. Cetera Investment Advisers increased its holdings in Eagle Point Income by 17.8% during the 2nd quarter. Cetera Investment Advisers now owns 14,369 shares of the company’s stock valued at $196,000 after purchasing an additional 2,170 shares in the last quarter. Raymond James Financial Inc. grew its holdings in shares of Eagle Point Income by 3.6% during the third quarter. Raymond James Financial Inc. now owns 48,471 shares of the company’s stock worth $652,000 after purchasing an additional 1,701 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Eagle Point Income in the third quarter valued at $89,000. TrueMark Investments LLC bought a new position in shares of Eagle Point Income in the fourth quarter valued at about $171,000. Finally, Freestone Capital Holdings LLC bought a new position in shares of Eagle Point Income in the fourth quarter valued at about $707,000.

Eagle Point Income Price Performance

Shares of NYSE:EIC traded down $0.06 during midday trading on Wednesday, reaching $9.95. 64,778 shares of the company’s stock were exchanged, compared to its average volume of 150,379. The company’s 50 day simple moving average is $10.25 and its two-hundred day simple moving average is $10.20. Eagle Point Income has a 12 month low of $9.17 and a 12 month high of $13.92.

Eagle Point Income Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) dividend on an annualized basis and a dividend yield of 13.3%.

Wall Street Analyst Weigh In

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

Eagle Point Income Company Profile

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.