Premium Income (TSE:PIC.A) Stock Breaks Above 200-Day Moving Average – Here’s What Happened

Premium Income Corporation (TSE:PIC.A) crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$9.90 and traded as high as C$9.98. Premium Income shares last traded at C$9.97, with a volume of 43,150 shares trading hands.

Premium Income Price Performance

The company has a debt-to-equity ratio of 562.70, a current ratio of 1.18 and a quick ratio of 1.45. The firm has a market cap of C$208.89 million, a price-to-earnings ratio of 1.46 and a beta of 1.13. The business’s 50-day moving average price is C$9.68 and its two-hundred day moving average price is C$9.90.

Premium Income Company Profile

to provide Class A shareholders with quarterly cash distributions equal to the amount, if any, by which the net realized capital gains, dividends and option premiums (other than option premiums in respect of options outstanding at year-end) earned on the Funds portfolio in any year, net of expenses and loss carry forwards, exceed the amount of the distributions paid on Class A shares upon windup of the Fund To accomplish its objectives, the Fund invests at least 75 percent of its net asset value (“NAV) in common shares of the Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank (collectively, the “Banks) and may also invest up to 25 percent of its NAV in common shares of National Bank of Canada.