Canoe EIT Income Fund (TSE:EIT.UN) Sets New 12-Month High – Time to Buy?

Shares of Canoe EIT Income Fund (TSE:EIT.UN) reached a new 52-week high on Wednesday. The company traded as high as C$18.06 and last traded at C$18.03, with a volume of 19,729 shares. The stock had previously closed at C$17.89.

Canoe EIT Income Fund Stock Performance

The firm has a market cap of C$3.49 billion, a PE ratio of 6.01 and a beta of -0.54. The firm’s 50-day moving average price is C$17.61 and its two-hundred day moving average price is C$17.24.

Canoe EIT Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 13th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 6.6%. Canoe EIT Income Fund’s payout ratio is 39.87%.

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.