Eagle Point Income Company Inc. (NYSE:EIC) Short Interest Up 93.5% in August

Eagle Point Income Company Inc. (NYSE:EIC) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 30,000 shares, an increase of 93.5% from the August 15th total of 15,500 shares. Based on an average daily volume of 160,900 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, B. Riley assumed coverage on Eagle Point Income in a research report on Tuesday, September 3rd. They set a “buy” rating and a $17.50 price target on the stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Main Street Financial Solutions LLC acquired a new position in Eagle Point Income during the 2nd quarter valued at about $160,000. Graypoint LLC boosted its stake in shares of Eagle Point Income by 3.9% in the 2nd quarter. Graypoint LLC now owns 158,998 shares of the company’s stock worth $2,512,000 after buying an additional 6,035 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Eagle Point Income in the 1st quarter worth approximately $253,000.

Eagle Point Income Trading Down 0.5 %

Shares of NYSE EIC traded down $0.08 during mid-day trading on Friday, hitting $15.52. 146,503 shares of the stock traded hands, compared to its average volume of 139,115. Eagle Point Income has a twelve month low of $13.55 and a twelve month high of $16.75. The firm has a 50 day simple moving average of $15.68 and a two-hundred day simple moving average of $15.84.

Eagle Point Income (NYSE:EIC) last announced its earnings results on Tuesday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter. The company had revenue of $10.92 million for the quarter.

Eagle Point Income Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, October 11th.

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.