Canoe EIT Income Fund (TSE:EIT.UN) Reaches New 52-Week High – Here’s What Happened

Canoe EIT Income Fund (TSE:EIT.UN)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$17.57 and last traded at C$17.52, with a volume of 18447 shares changing hands. The stock had previously closed at C$17.53.

Canoe EIT Income Fund Trading Up 0.2%

The stock has a market capitalization of C$3.28 billion, a P/E ratio of 8.79 and a beta of 0.15. The company has a 50-day moving average price of C$17.24 and a 200 day moving average price of C$16.82.

Canoe EIT Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were issued a $0.10 dividend. The ex-dividend date was Monday, May 25th. This represents a c) dividend on an annualized basis and a yield of 6.8%. Canoe EIT Income Fund’s payout ratio is currently 60.00%.

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.