Canoe EIT Income Fund (TSE:EIT.UN) Reaches New 12-Month High – What’s Next?

Canoe EIT Income Fund (TSE:EIT.UN)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$17.75 and last traded at C$17.72, with a volume of 23307 shares trading hands. The stock had previously closed at C$17.65.

Canoe EIT Income Fund Stock Performance

The firm has a market capitalization of C$3.31 billion, a price-to-earnings ratio of 8.87 and a beta of 0.15. The company has a fifty day moving average of C$17.29 and a two-hundred day moving average of C$16.87.

Canoe EIT Income Fund Dividend Announcement

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