Canoe EIT Income Fund (TSE:EIT.UN) Shares Up 0.1% – Time to Buy?

Canoe EIT Income Fund (TSE:EIT.UN)’s share price traded up 0.1% during mid-day trading on Wednesday . The stock traded as high as C$17.33 and last traded at C$17.32. Approximately 75,918 shares were traded during trading, a decline of 59% from the average daily volume of 185,450 shares. The stock had previously closed at C$17.31.

Canoe EIT Income Fund Stock Performance

The stock’s 50 day moving average price is C$17.19 and its 200 day moving average price is C$16.77. The company has a market capitalization of C$3.23 billion, a P/E ratio of 8.66 and a beta of 0.15.

Canoe EIT Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were issued a $0.10 dividend. The ex-dividend date was Monday, May 25th. This represents a c) annualized dividend and a yield of 6.9%. Canoe EIT Income Fund’s payout ratio 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.