Eagle Point Income Company Inc. (NYSE:EIC – Get Free Report) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 36,290 shares, a drop of 42.3% from the June 30th total of 62,916 shares. Based on an average daily trading volume, of 110,910 shares, the days-to-cover ratio is currently 0.3 days.
Hedge Funds Weigh In On Eagle Point Income
A number of hedge funds and other institutional investors have recently bought and sold shares of EIC. EverSource Wealth Advisors LLC boosted its position in Eagle Point Income by 63.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $31,000 after purchasing an additional 1,064 shares during the period. TCTC Holdings LLC grew its position in Eagle Point Income by 38.5% in the 4th quarter. TCTC Holdings LLC now owns 3,600 shares of the company’s stock worth $41,000 after purchasing an additional 1,000 shares during the last quarter. N.E.W. Advisory Services LLC grew its position in Eagle Point Income by 100.0% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the company’s stock worth $46,000 after purchasing an additional 2,000 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 approximately $89,000. Finally, Evolve Private Wealth LLC acquired a new stake in shares of Eagle Point Income in the fourth quarter valued at approximately $122,000.
Eagle Point Income Trading Up 0.3%
NYSE EIC traded up $0.03 during trading hours on Friday, reaching $9.99. 86,442 shares of the company traded hands, compared to its average volume of 149,793. Eagle Point Income has a 12 month low of $9.17 and a 12 month high of $13.92. The company has a 50 day moving average of $10.21 and a two-hundred day moving average of $10.18.
Eagle Point Income Announces Dividend
Wall Street Analysts Forecast Growth
Separately, Zacks Research raised shares of Eagle Point Income from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.25.
Get Our Latest Analysis on Eagle Point Income
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.
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