Baillie Gifford & Co. Acquires Shares of 569,544 Eagle Point Income Company Inc. (NYSE:EIC)

Baillie Gifford & Co. acquired a new stake in Eagle Point Income Company Inc. (NYSE:EIC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 569,544 shares of the company’s stock, valued at approximately $8,515,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of EIC. AdvisorNet Financial Inc purchased a new stake in Eagle Point Income during the 1st quarter valued at $25,000. Wedbush Securities Inc. purchased a new stake in shares of Eagle Point Income in the first quarter valued at $166,000. M&T Bank Corp bought a new stake in shares of Eagle Point Income in the 1st quarter worth about $175,000. Naviter Wealth LLC bought a new stake in shares of Eagle Point Income in the 1st quarter worth about $178,000. Finally, Cetera Investment Advisers purchased a new position in shares of Eagle Point Income during the 1st quarter worth about $182,000.

Eagle Point Income Trading Up 2.8%

Shares of NYSE:EIC opened at $12.94 on Friday. Eagle Point Income Company Inc. has a 12 month low of $12.46 and a 12 month high of $16.71. The firm’s 50-day moving average is $13.51 and its 200 day moving average is $14.55.

Eagle Point Income (NYSE:EIC) last released its earnings results on Wednesday, May 28th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.20). The firm had revenue of $14.13 million during the quarter, compared to analysts’ expectations of $13.58 million.

Eagle Point Income Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 14th will be paid a $0.13 dividend. The ex-dividend date is Friday, July 11th. This represents a yield of 11.36%.

About Eagle Point Income

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.