Premium Income (TSE:PIC.A) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Premium Income Corporation (TSE:PIC.A)’s share price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$9.90 and traded as high as C$9.98. Premium Income shares last traded at C$9.97, with a volume of 43,150 shares trading hands.

Premium Income Stock Down 2.5%

The company has a market cap of C$203.65 million, a PE ratio of 1.42 and a beta of 1.13. The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 562.70. The business has a 50-day simple moving average of C$9.69 and a 200-day simple moving average of C$9.90.

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.