Canoe EIT Income Fund (TSE:EIT.UN) Reaches New 52-Week High – Time to Buy?

Canoe EIT Income Fund (TSE:EIT.UN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$25.95 and last traded at C$15.56, with a volume of 66405 shares. The stock had previously closed at C$15.55.

Canoe EIT Income Fund Price Performance

The firm has a market capitalization of C$2.86 billion, a price-to-earnings ratio of 4.94 and a beta of 0.42. The business has a fifty day moving average of C$15.43.

Canoe EIT Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 14th were given a $0.10 dividend. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date was Wednesday, October 22nd. Canoe EIT Income Fund’s dividend payout ratio is currently 38.10%.

About Canoe EIT Income Fund

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.