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

Eagle Point Income Company Inc. (NYSE:EIC) was the target of a significant increase in short interest in the month of 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 volume of 226,100 shares, the days-to-cover ratio is presently 0.2 days.

Eagle Point Income Price Performance

NYSE:EIC traded down $0.19 during midday trading on Thursday, hitting $16.04. 469,557 shares of the company were exchanged, compared to its average volume of 228,952. Eagle Point Income has a fifty-two week low of $14.78 and a fifty-two week high of $16.75. The company has a fifty day simple moving average of $15.72 and a 200 day simple moving average of $15.76.

Eagle Point Income Announces Dividend

The company also recently announced 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 dividend yield of 15.17%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EIC. Graypoint LLC increased its holdings in shares of Eagle Point Income by 19.2% in the 4th quarter. Graypoint LLC now owns 197,136 shares of the company’s stock valued at $3,063,000 after acquiring an additional 31,813 shares during the period. Principal Securities Inc. raised its holdings in shares of Eagle Point Income by 5.3% in the fourth quarter. Principal Securities Inc. now owns 85,869 shares of the company’s stock valued at $1,334,000 after buying an additional 4,358 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Eagle Point Income by 5.3% in the 4th 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 period. Raymond James Financial Inc. acquired a new position in shares of Eagle Point Income during the fourth quarter worth about $842,000. Finally, LPL Financial LLC raised its holdings in Eagle Point Income by 14.3% during the fourth quarter. LPL Financial LLC now owns 27,976 shares of the company’s stock worth $435,000 after purchasing an additional 3,504 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Eagle Point Income Company Profile

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.