Premium Income (TSE:PIC.A) Stock Price Down 0.5% – Here’s Why

Premium Income Corporation (TSE:PIC.A) dropped 0.5% on Monday . The company traded as low as C$10.99 and last traded at C$10.99. 115,023 shares traded hands during mid-day trading, an increase of 81% from the average session volume of 63,507 shares. The stock had previously closed at C$11.04.

Premium Income Trading Down 0.5%

The company has a debt-to-equity ratio of 562.70, a current ratio of 1.18 and a quick ratio of 1.45. The company has a fifty day moving average of C$10.77 and a 200-day moving average of C$9.76. The firm has a market capitalization of C$230.26 million, a PE ratio of 1.75 and a beta of 1.33.

About Premium Income

to provide Class A shareholders with quarterly cash distributions equal to the amount, if any, by which the net realized capital gains, dividends and option premiums (other than option premiums in respect of options outstanding at year-end) earned on the Funds portfolio in any year, net of expenses and loss carry forwards, exceed the amount of the distributions paid on Class A shares upon windup of the Fund To accomplish its objectives, the Fund invests at least 75 percent of its net asset value (“NAV) in common shares of the Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank (collectively, the “Banks) and may also invest up to 25 percent of its NAV in common shares of National Bank of Canada.