Eagle Point Income Company Inc. (NYSE:EIC) to Issue $0.11 Monthly Dividend

Eagle Point Income Company Inc. (NYSE:EIC) announced a monthly dividend on Thursday, August 13th. Shareholders of record on Friday, December 11th will be paid a dividend of 0.11 per share on Thursday, December 31st. This represents a c) annualized dividend and a yield of 13.1%. The ex-dividend date of this dividend is Friday, December 11th.

Eagle Point Income Stock Up 1.7%

EIC stock opened at $10.08 on Friday. The business’s 50-day moving average is $10.10 and its two-hundred day moving average is $10.10. Eagle Point Income has a 1 year low of $9.17 and a 1 year high of $13.92.

Eagle Point Income (NYSE:EIC) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.04.

Hedge Funds Weigh In On Eagle Point Income

Large investors have recently bought and sold shares of the business. Flax Pond Capital LLC acquired a new position in shares of Eagle Point Income during the 4th quarter worth about $5,160,000. Freestone Capital Holdings LLC acquired a new stake in shares of Eagle Point Income during the 4th quarter worth about $707,000. Bulldog Investors LLP purchased a new stake in Eagle Point Income during the first quarter worth approximately $2,054,000. Rivernorth Capital Management LLC lifted its stake in Eagle Point Income by 47.4% during the first quarter. Rivernorth Capital Management LLC now owns 774,059 shares of the company’s stock worth $7,307,000 after purchasing an additional 248,933 shares during the last quarter. Finally, K2 Principal Fund L.P. acquired a new position in Eagle Point Income in the second quarter valued at approximately $237,000.

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.