Short Interest in Eagle Point Income Company Inc. (NYSE:EIC) Declines By 14.3%

Eagle Point Income Company Inc. (NYSE:EIC) was the recipient of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 41,300 shares, a decrease of 14.3% from the January 31st total of 48,200 shares. Based on an average daily volume of 234,900 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

EIC has been the topic of several analyst reports. B. Riley upgraded Eagle Point Income to a “strong-buy” rating in a research note on Tuesday, January 7th. LADENBURG THALM/SH SH raised shares of Eagle Point Income to a “strong-buy” rating in a research report on Thursday, January 16th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Graypoint LLC boosted its holdings in Eagle Point Income by 4.0% in the third quarter. Graypoint LLC now owns 165,323 shares of the company’s stock valued at $2,665,000 after purchasing an additional 6,325 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Eagle Point Income by 5.3% in the fourth quarter. Principal Securities Inc. now owns 85,869 shares of the company’s stock worth $1,334,000 after buying an additional 4,358 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Eagle Point Income in the third quarter worth about $216,000. Cresset Asset Management LLC acquired a new stake in Eagle Point Income during the fourth quarter worth about $207,000. Finally, Raymond James Financial Inc. purchased a new position in Eagle Point Income during the fourth quarter valued at approximately $842,000.

Eagle Point Income Stock Down 0.1 %

Shares of Eagle Point Income stock traded down $0.02 during trading on Friday, reaching $15.73. The company’s stock had a trading volume of 184,423 shares, compared to its average volume of 180,037. Eagle Point Income has a 1-year low of $14.78 and a 1-year high of $16.75. The company has a 50-day simple moving average of $15.82 and a two-hundred day simple moving average of $15.78.

Eagle Point Income (NYSE:EIC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.08). The business had revenue of $13.67 million during the quarter, compared to analyst estimates of $13.54 million.

Eagle Point Income Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 15.26%.

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.