Premium Income (TSE:PIC.A) Shares Down 2.7% – Here’s Why

Premium Income Corporation (TSE:PIC.A)’s stock price fell 2.7% during mid-day trading on Thursday . The company traded as low as C$5.34 and last traded at C$5.34. 78,820 shares traded hands during mid-day trading, an increase of 93% from the average session volume of 40,789 shares. The stock had previously closed at C$5.49.

Premium Income Trading Up 1.1 %

The stock has a market cap of C$104.65 million, a P/E ratio of 0.00 and a beta of 1.20. The company has a quick ratio of 1.45, a current ratio of 1.18 and a debt-to-equity ratio of 562.70. The firm’s 50 day simple moving average is C$5.96 and its two-hundred day simple moving average is C$5.11.

About Premium Income

to provide Class A shareholders with quarterly cash distributions equal to the amount, if any, by which the net realized capital gains, dividends and option premiums (other than option premiums in respect of options outstanding at year-end) earned on the Funds portfolio in any year, net of expenses and loss carry forwards, exceed the amount of the distributions paid on Class A shares upon windup of the Fund To accomplish its objectives, the Fund invests at least 75 percent of its net asset value (“NAV) in common shares of the Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank (collectively, the “Banks) and may also invest up to 25 percent of its NAV in common shares of National Bank of Canada.