Eagle Point Income Company Inc. (NYSE:EIC) Sees Large Increase in Short Interest

Eagle Point Income Company Inc. (NYSE:EIC) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 48,200 shares, a growth of 295.1% from the January 15th total of 12,200 shares. Based on an average trading volume of 226,100 shares, the short-interest ratio is currently 0.2 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Eagle Point Income

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EIC. Virtu Financial LLC acquired a new position in shares of Eagle Point Income during the 3rd quarter worth about $216,000. LPL Financial LLC grew its holdings in Eagle Point Income by 14.3% during the fourth quarter. LPL Financial LLC now owns 27,976 shares of the company’s stock valued at $435,000 after purchasing an additional 3,504 shares during the period. Raymond James Financial Inc. bought a new stake in Eagle Point Income in the fourth quarter valued at approximately $842,000. Principal Securities Inc. raised its holdings in 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 purchasing an additional 4,358 shares during the period. Finally, Graypoint LLC boosted its position in shares of 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.

Eagle Point Income Stock Up 1.8 %

Eagle Point Income stock traded up $0.28 during trading hours on Wednesday, hitting $16.21. The company had a trading volume of 312,405 shares, compared to its average volume of 229,083. The firm’s fifty day moving average is $15.71 and its 200-day moving average is $15.75. Eagle Point Income has a fifty-two week low of $14.78 and a fifty-two week high of $16.75.

Eagle Point Income Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 14th were given a $0.20 dividend. The ex-dividend date was Monday, January 13th. This represents a dividend yield of 15.17%.

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.