Premium Income (TSE:PIC.A) Stock Price Up 2.5% – Here’s Why

Premium Income Corporation (TSE:PIC.A)’s stock price traded up 2.5% during trading on Tuesday . The company traded as high as C$11.00 and last traded at C$10.92. Approximately 141,761 shares traded hands during mid-day trading, an increase of 118% from the average session volume of 65,093 shares. The stock had previously closed at C$10.65.

Premium Income Stock Up 2.5%

The firm has a market cap of C$228.80 million, a price-to-earnings ratio of 1.60 and a beta of 1.33. The firm’s 50 day moving average price is C$11.02 and its two-hundred day moving average price is C$9.93. The company has a debt-to-equity ratio of 562.70, a current ratio of 1.18 and a quick ratio of 1.45.

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.