Premium Income (TSE:PIC.A) Sets New 1-Year High – Here’s What Happened

Premium Income Corporation (TSE:PIC.A) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$9.90 and last traded at C$9.83, with a volume of 35907 shares changing hands. The stock had previously closed at C$9.79.

Premium Income Stock Up 0.5%

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 company has a market capitalization of C$188.99 million, a price-to-earnings ratio of 2.26 and a beta of 1.30. The stock’s fifty day moving average price is C$9.25 and its 200-day moving average price is C$8.98.

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.