Canoe EIT Income Fund (TSE:EIT.UN) Hits New 12-Month High – What’s Next?

Canoe EIT Income Fund (TSE:EIT.UN) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$16.14 and last traded at C$16.13, with a volume of 47253 shares changing hands. The stock had previously closed at C$16.07.

Canoe EIT Income Fund Price Performance

The business has a 50 day simple moving average of C$15.64 and a 200 day simple moving average of C$15.49. The company has a market capitalization of C$2.97 billion, a price-to-earnings ratio of 5.12 and a beta of 0.35.

Canoe EIT Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 14th were issued a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a yield of 7.4%. The ex-dividend date was Wednesday, October 22nd. Canoe EIT Income Fund’s dividend payout ratio (DPR) is 38.10%.

About Canoe EIT Income Fund

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.