Canoe EIT Income Fund (TSE:EIT.UN) Stock Price Down 0.4% – Here’s Why

Shares of Canoe EIT Income Fund (TSE:EIT.UN) were down 0.4% during mid-day trading on Monday . The stock traded as low as C$17.76 and last traded at C$17.77. Approximately 176,055 shares traded hands during trading, an increase of 1% from the average session volume of 175,165 shares. The stock had previously closed at C$17.84.

Canoe EIT Income Fund Stock Down 0.4%

The firm has a 50 day moving average of C$17.50 and a 200 day moving average of C$17.08. The firm has a market cap of C$3.31 billion, a PE ratio of 8.88 and a beta of 0.14.

Canoe EIT Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were paid a $0.10 dividend. The ex-dividend date was Monday, May 25th. This represents a c) annualized dividend and a dividend yield of 6.8%. Canoe EIT Income Fund’s payout ratio is presently 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.