Choreo LLC Buys Shares of 70,340 Eagle Point Income Company Inc. (NYSE:EIC)

Choreo LLC bought a new stake in shares of Eagle Point Income Company Inc. (NYSE:EICFree Report) during the 1st quarter, Holdings Channel.com reports. The fund bought 70,340 shares of the company’s stock, valued at approximately $1,052,000.

Several other hedge funds and other institutional investors have also bought and sold shares of EIC. Raymond James Financial Inc. purchased a new position in Eagle Point Income in the 4th quarter worth $842,000. M&T Bank Corp purchased a new position in Eagle Point Income in the 1st quarter worth $175,000. Mariner LLC acquired a new stake in shares of Eagle Point Income during the 4th quarter valued at about $275,000. Envestnet Asset Management Inc. boosted its holdings in shares of Eagle Point Income by 5.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 85,869 shares of the company’s stock worth $1,334,000 after purchasing an additional 4,358 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Eagle Point Income by 14.3% during the 4th quarter. LPL Financial LLC now owns 27,976 shares of the company’s stock worth $435,000 after purchasing an additional 3,504 shares during the last quarter.

Eagle Point Income Stock Performance

Shares of Eagle Point Income stock opened at $12.94 on Friday. The stock’s 50 day simple moving average is $13.51 and its 200-day simple moving average is $14.55. Eagle Point Income Company Inc. has a 1-year low of $12.46 and a 1-year high of $16.71.

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

Eagle Point Income Cuts Dividend

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

Eagle Point Income Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding EIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Point Income Company Inc. (NYSE:EICFree Report).

Institutional Ownership by Quarter for Eagle Point Income (NYSE:EIC)

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