Eagle Point Income (NYSE:EIC) Rating Increased to Strong-Buy at B. Riley

B. Riley upgraded shares of Eagle Point Income (NYSE:EIC) to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

Eagle Point Income Trading Up 1.1 %

EIC opened at $16.25 on Tuesday. The stock has a fifty day simple moving average of $15.74 and a two-hundred day simple moving average of $15.78. 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 will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, January 13th.

Hedge Funds Weigh In On Eagle Point Income

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in shares of Eagle Point Income in the 3rd quarter worth about $216,000. Main Street Financial Solutions LLC purchased a new position in Eagle Point Income in the second quarter worth about $160,000. Graypoint LLC lifted its stake in shares of Eagle Point Income by 4.0% in the third quarter. Graypoint LLC now owns 165,323 shares of the company’s stock worth $2,665,000 after buying an additional 6,325 shares in the last quarter. Finally, Webster Bank N. A. purchased a new stake in shares of Eagle Point Income during the third quarter valued at approximately $44,000.

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.