Canoe EIT Income Fund (TSE:EIT.UN) Hits New 1-Year Low – Here’s Why

Canoe EIT Income Fund (TSE:EIT.UN) shares reached a new 52-week low during mid-day trading on Monday. The stock traded as low as C$25.16 and last traded at C$17.39, with a volume of 75244 shares traded. The stock had previously closed at C$17.45.

Canoe EIT Income Fund Price Performance

The firm’s 50 day moving average is C$17.68 and its 200 day moving average is C$17.26. The company has a market capitalization of C$3.33 billion, a PE ratio of 5.74 and a beta of 0.31.

Canoe EIT Income Fund Company Profile

The investment objectives of the Fund are to maximize monthly distributions relative to risk and maximize Net Asset Value, while maintaining and expanding a diversified investment portfolio, primarily through acquiring, investing, holding, transferring, disposing of or otherwise dealing with or in equity and debt securities of corporations, partnerships, or other issuers and such other investments as the Manager may determine in its sole discretion from time to time. The investment objectives set forth above may be achieved through direct acquisitions, investments or, at the election of the Manager, through exchange offers completed by the Fund from time to time.