Eagle Point Income Company Inc. to Issue Monthly Dividend of $0.11 (NYSE:EIC)

Eagle Point Income Company Inc. (NYSE:EIC) announced a monthly dividend on Tuesday, May 12th. Shareholders of record on Tuesday, August 11th will be paid a dividend of 0.11 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 12.3%. The ex-dividend date of this dividend is Tuesday, August 11th.

Eagle Point Income Trading Up 1.9%

EIC traded up $0.20 during trading on Wednesday, hitting $10.70. The company’s stock had a trading volume of 47,653 shares, compared to its average volume of 183,469. The firm’s 50 day moving average price is $9.77 and its two-hundred day moving average price is $10.73. Eagle Point Income has a 12 month low of $9.17 and a 12 month high of $14.80.

Eagle Point Income (NYSE:EIC) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $14.50 million for the quarter, compared to analyst estimates of $14.70 million.

Hedge Funds Weigh In On Eagle Point Income

A number of large investors have recently made changes to their positions in the company. Bulldog Investors LLP bought a new position in shares of Eagle Point Income during the first quarter worth approximately $2,054,000. Astoria Portfolio Advisors LLC. increased its stake in shares of Eagle Point Income by 9.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 13,182 shares of the company’s stock worth $132,000 after purchasing an additional 1,090 shares during the period. TrueMark Investments LLC increased its stake in shares of Eagle Point Income by 26.7% during the first quarter. TrueMark Investments LLC now owns 19,011 shares of the company’s stock worth $179,000 after purchasing an additional 4,011 shares during the period. Flax Pond Capital LLC bought a new position in shares of Eagle Point Income during the fourth quarter worth approximately $5,160,000. Finally, XTX Topco Ltd bought a new position in shares of Eagle Point Income during the fourth quarter worth approximately $483,000.

About Eagle Point Income

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.