Eagle Point Income Company Inc. (NYSE:EIC) Declares $0.11 Monthly Dividend

Eagle Point Income Company Inc. (NYSE:EIC) announced a monthly dividend on Tuesday, May 12th. Stockholders of record on Thursday, September 10th will be paid a dividend of 0.11 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 12.4%. The ex-dividend date of this dividend is Thursday, September 10th.

Eagle Point Income Trading Up 1.3%

Shares of NYSE EIC traded up $0.14 during mid-day trading on Wednesday, hitting $10.64. 46,950 shares of the company traded hands, compared to its average volume of 183,467. Eagle Point Income has a 1 year low of $9.17 and a 1 year high of $14.80. The business has a 50 day moving average of $9.77 and a two-hundred day moving average of $10.73.

Eagle Point Income (NYSE:EIC) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $14.50 million during the quarter, compared to analysts’ expectations of $14.70 million.

Institutional Investors Weigh In On Eagle Point Income

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in shares of Eagle Point Income by 63.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $31,000 after purchasing an additional 1,064 shares in the last quarter. TCTC Holdings LLC raised its stake in shares of Eagle Point Income by 38.5% during 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 in the last quarter. N.E.W. Advisory Services LLC raised its stake in shares of Eagle Point Income by 100.0% during 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 in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Eagle Point Income during the 3rd quarter worth about $89,000. Finally, Evolve Private Wealth LLC purchased a new stake in shares of Eagle Point Income during the 4th quarter worth about $122,000.

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.