Bard Associates Inc. Trims Holdings in Eagle Point Income Company Inc. (NYSE:EIC)

Bard Associates Inc. decreased its position in shares of Eagle Point Income Company Inc. (NYSE:EIC) by 0.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 123,075 shares of the company’s stock after selling 1,100 shares during the quarter. Bard Associates Inc.’s holdings in Eagle Point Income were worth $1,984,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Eagle Point Income in the 1st quarter valued at approximately $253,000. Main Street Financial Solutions LLC purchased a new stake in Eagle Point Income in the second quarter valued at approximately $160,000. Graypoint LLC lifted its stake in Eagle Point Income by 4.0% during the third quarter. Graypoint LLC now owns 165,323 shares of the company’s stock worth $2,665,000 after purchasing an additional 6,325 shares in the last quarter. Finally, Webster Bank N. A. purchased a new stake in shares of Eagle Point Income in the 3rd quarter valued at $44,000.

Eagle Point Income Price Performance

Shares of NYSE EIC opened at $16.04 on Friday. Eagle Point Income Company Inc. has a 52-week low of $14.15 and a 52-week high of $16.75. The business has a 50-day moving average price of $15.97 and a 200 day moving average price of $15.86.

Eagle Point Income Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.20 per share. This represents a $2.40 annualized dividend and a yield of 14.96%. The ex-dividend date of this dividend is Tuesday, March 11th.

Wall Street Analyst Weigh In

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

Eagle Point Income Profile

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.