Eagle Point Income Company Inc. (NYSE:EIC) Short Interest Up 295.1% in January

Eagle Point Income Company Inc. (NYSE:EIC) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 48,200 shares, an increase of 295.1% from the January 15th total of 12,200 shares. Based on an average daily trading volume, of 226,100 shares, the short-interest ratio is currently 0.2 days.

Eagle Point Income Stock Performance

Shares of Eagle Point Income stock traded down $0.19 during mid-day trading on Thursday, hitting $16.04. The stock had a trading volume of 469,557 shares, compared to its average volume of 228,952. The firm has a 50-day moving average of $15.72 and a two-hundred day moving average of $15.76. Eagle Point Income has a 12-month low of $14.78 and a 12-month high of $16.75.

Eagle Point Income Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 14th were given a $0.20 dividend. The ex-dividend date was Monday, January 13th. This represents a yield of 15.17%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. B. Riley raised shares of Eagle Point Income to a “strong-buy” rating in a research note on Tuesday, January 7th. LADENBURG THALM/SH SH upgraded Eagle Point Income to a “strong-buy” rating in a report on Thursday, January 16th.

Institutional Investors Weigh In On Eagle Point Income

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in shares of Eagle Point Income during the 3rd quarter worth $216,000. LPL Financial LLC lifted its position in Eagle Point Income by 14.3% in the fourth quarter. LPL Financial LLC now owns 27,976 shares of the company’s stock valued at $435,000 after buying an additional 3,504 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Eagle Point Income during the fourth quarter worth about $842,000. Envestnet Asset Management Inc. increased its position in shares of Eagle Point Income by 5.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 85,869 shares of the company’s stock valued at $1,334,000 after acquiring an additional 4,358 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in shares of Eagle Point Income by 5.3% in the 4th quarter. Principal Securities Inc. now owns 85,869 shares of the company’s stock valued at $1,334,000 after acquiring an additional 4,358 shares during the period.

About Eagle Point Income

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.