Canoe EIT Income Fund (TSE:EIT.UN) Reaches New 52-Week High – Here’s Why

Canoe EIT Income Fund (TSE:EIT.UN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$16.80 and last traded at C$16.70, with a volume of 71887 shares trading hands. The stock had previously closed at C$16.63.

Canoe EIT Income Fund Stock Performance

The stock has a market cap of C$3.07 billion, a P/E ratio of 5.30 and a beta of 0.35. The firm has a 50-day moving average price of C$15.74 and a 200-day moving average price of C$15.51.

Canoe EIT Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 14th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, October 22nd. This represents a c) annualized dividend and a yield of 7.2%. Canoe EIT Income Fund’s dividend payout ratio is 38.10%.

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.