Canoe EIT Income Fund (TSE:EIT.UN) Sets New 52-Week High – What’s Next?

Canoe EIT Income Fund (TSE:EIT.UN) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$17.35 and last traded at C$17.25, with a volume of 202735 shares traded. The stock had previously closed at C$17.23.

Canoe EIT Income Fund Stock Down 0.2%

The firm’s 50 day simple moving average is C$16.77 and its 200-day simple moving average is C$16.37. The company has a market capitalization of C$3.25 billion, a PE ratio of 8.71 and a beta of 0.22.

Canoe EIT Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.10 per share. This represents a c) annualized dividend and a yield of 6.9%. The ex-dividend date is Monday, May 25th. 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.