Eagle Point Income Company Inc. (NYSE:EIC) Short Interest Up 93.5% in August

Eagle Point Income Company Inc. (NYSE:EIC) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 30,000 shares, a growth of 93.5% from the August 15th total of 15,500 shares. Based on an average daily trading volume, of 160,900 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

Separately, B. Riley began 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EIC. Graypoint LLC grew its position in Eagle Point Income by 2.7% in the first quarter. Graypoint LLC now owns 152,963 shares of the company’s stock worth $2,547,000 after acquiring an additional 4,048 shares in the last quarter. Virtu Financial LLC purchased a new position in Eagle Point Income in the first quarter worth $253,000. Finally, Main Street Financial Solutions LLC purchased a new stake in Eagle Point Income during the second quarter valued at about $160,000.

Eagle Point Income Trading Down 0.5 %

EIC stock traded down $0.08 during midday trading on Friday, reaching $15.52. 146,503 shares of the company’s stock traded hands, compared to its average volume of 139,115. The company has a 50-day moving average price of $15.68 and a two-hundred day moving average price of $15.84. Eagle Point Income has a 52 week low of $13.55 and a 52 week high of $16.75.

Eagle Point Income (NYSE:EIC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.44 earnings per share for the quarter. The firm had revenue of $10.92 million during 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 $0.20 dividend. The ex-dividend date of this dividend is Friday, October 11th.

Eagle Point Income Company 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.