Bulldog Investors LLP Makes New Investment in Eagle Point Income Company Inc. $EIC

Bulldog Investors LLP acquired a new position in Eagle Point Income Company Inc. (NYSE:EIC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 217,600 shares of the company’s stock, valued at approximately $2,054,000.

A number of other hedge funds have also recently made changes to their positions in EIC. EverSource Wealth Advisors LLC boosted its stake in shares of Eagle Point Income by 63.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $31,000 after purchasing an additional 1,064 shares in the last quarter. TCTC Holdings LLC raised its position in Eagle Point Income by 38.5% in the 4th quarter. TCTC Holdings LLC now owns 3,600 shares of the company’s stock worth $41,000 after purchasing an additional 1,000 shares during the period. N.E.W. Advisory Services LLC lifted its stake in Eagle Point Income by 100.0% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the company’s stock worth $46,000 after purchasing an additional 2,000 shares during the last quarter. Advisory Services Network LLC bought a new stake in Eagle Point Income in the third quarter worth $89,000. Finally, Evolve Private Wealth LLC bought a new stake in Eagle Point Income in the fourth quarter worth $122,000.

Analyst Ratings Changes

Separately, Zacks Research raised Eagle Point Income from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Eagle Point Income has an average rating of “Hold” and a consensus price target of $11.25.

Eagle Point Income Price Performance

NYSE:EIC opened at $9.96 on Tuesday. Eagle Point Income Company Inc. has a fifty-two week low of $9.17 and a fifty-two week high of $13.92. The business has a 50 day moving average price of $10.34 and a 200-day moving average price of $10.26.

Eagle Point Income Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a $0.11 dividend. This represents a c) dividend on an annualized basis and a yield of 13.2%. The ex-dividend date of this dividend is Thursday, September 10th.

Eagle Point Income Company Profile

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.