Canoe EIT Income Fund (TSE:EIT.UN) Sets New 1-Year High – Here’s Why

by · The Markets Daily

Canoe EIT Income Fund (TSE:EIT.UN – Get Free Report)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$15.74 and last traded at C$15.72, with a volume of 38508 shares trading hands. The stock had previously closed at C$15.72.

Canoe EIT Income Fund Stock Down 0.3%

The stock has a market capitalization of C$2.88 billion, a price-to-earnings ratio of 4.97 and a beta of -0.28. The stock has a 50 day moving average price of C$15.47 and a 200 day moving average price of C$15.43.

Canoe EIT Income Fund Announces Dividend

The firm also recently announced 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 7.7%. The ex-dividend date of this dividend was Wednesday, October 22nd. Canoe EIT Income Fund’s payout ratio is presently 38.10%.

Canoe EIT Income Fund Company Profile

(Get Free Report)

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.

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