Canoe EIT Income Fund (TSE:EIT.UN) Shares Up 0.6% – Still a Buy?

Canoe EIT Income Fund (TSE:EIT.UN)’s stock price traded up 0.6% during trading on Monday . The stock traded as high as C$15.92 and last traded at C$15.86. 248,882 shares traded hands during trading, a decline of 25% from the average session volume of 333,253 shares. The stock had previously closed at C$15.76.

Canoe EIT Income Fund Stock Performance

The company has a market cap of C$2.91 billion, a P/E ratio of 5.03 and a beta of 0.35. The stock has a 50-day simple moving average of C$15.59 and a 200 day simple moving average of C$15.47.

Canoe EIT Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 14th were issued a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend was Wednesday, October 22nd. Canoe EIT Income Fund’s payout ratio is presently 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. 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.