Eagle Point Income Company Inc. (NYSE:EIC) Sees Significant Growth in Short Interest

Eagle Point Income Company Inc. (NYSE:EIC) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 14,200 shares, a growth of 230.2% from the September 15th total of 4,300 shares. Based on an average daily volume of 177,200 shares, the days-to-cover ratio is currently 0.1 days.

Eagle Point Income Trading Down 1.4 %

EIC traded down $0.23 during trading on Friday, reaching $16.31. The company had a trading volume of 118,034 shares, compared to its average volume of 142,954. The firm’s 50-day simple moving average is $15.67 and its 200 day simple moving average is $15.87. Eagle Point Income has a 12-month low of $13.55 and a 12-month high of $16.75.

Eagle Point Income (NYSE:EIC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.44 EPS for the quarter. The business had revenue of $10.92 million for the quarter.

Eagle Point Income Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, October 11th.

Institutional Investors Weigh In On Eagle Point Income

Several institutional investors have recently made changes to their positions in the company. Webster Bank N. A. acquired a new stake in Eagle Point Income in the 3rd quarter worth approximately $44,000. Main Street Financial Solutions LLC acquired a new stake in Eagle Point Income in the 2nd quarter worth approximately $160,000. Virtu Financial LLC acquired a new stake in Eagle Point Income in the 1st quarter worth approximately $253,000. Finally, Graypoint LLC lifted its holdings in Eagle Point Income by 3.9% in the 2nd quarter. Graypoint LLC now owns 158,998 shares of the company’s stock worth $2,512,000 after purchasing an additional 6,035 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, B. Riley initiated coverage on Eagle Point Income in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $17.50 target price on the stock.

About Eagle Point Income

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.