Canoe EIT Income Fund (TSE:EIT.UN) Reaches New 52-Week High – Should You Buy?

by · The Markets Daily

Canoe EIT Income Fund (TSE:EIT.UN – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as C$17.95 and last traded at C$17.91, with a volume of 12,580 shares traded. The stock had previously closed at C$17.79.

Canoe EIT Income Fund Stock Performance

The business has a fifty day simple moving average of C$17.60 and a 200 day simple moving average of C$17.21. The stock has a market cap of C$3.44 billion, a price-to-earnings ratio of 5.93 and a beta of 0.26.

Canoe EIT Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 13th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 22nd. This represents a $1.20 annualized dividend and a yield of 6.7%. Canoe EIT Income Fund’s payout ratio is presently 39.87%.

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. 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.

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