Canoe EIT Income Fund (TSE:EIT.UN) Reaches New 52-Week High – Here’s Why

Canoe EIT Income Fund (TSE:EIT.UN)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$17.78 and last traded at C$17.78, with a volume of 46568 shares. The stock had previously closed at C$17.69.

Canoe EIT Income Fund Stock Up 0.6%

The firm’s fifty day moving average is C$17.33 and its 200-day moving average is C$16.92. The stock has a market capitalization of C$3.32 billion, a PE ratio of 8.90 and a beta of 0.15.

Canoe EIT Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were paid a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend was Monday, May 25th. Canoe EIT Income Fund’s dividend payout ratio is 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.