Canoe EIT Income Fund (OTCMKTS:ENDTF) Sees Large Volume Increase After Dividend Announcement

Key Points

• Canoe EIT Income Fund experienced an astonishing increase in trading volume, with approximately 30,223 shares traded, up by 1,051% from the previous session.
• The company announced a new dividend of $0.0726 per share, to be paid on September 15th, which translates to an impressive dividend yield of 787.0%.
• Canoe EIT Income Fund reported a market cap of C$1.31 billion and a low price-to-earnings ratio of 3.13, indicating potential value for investors.

Shares of Canoe EIT Income Fund (OTCMKTS:ENDTF - Get Free Report) saw strong trading volume on Tuesday after the company announced a dividend. 30,223 shares traded hands during mid-day trading, an increase of 1,051% from the previous session's volume of 2,626 shares.The stock last traded at C$11.00 and had previously closed at C$11.09.

The newly announced dividend which will be paid on Monday, September 15th. Shareholders of record on Monday, August 25th will be issued a $0.0726 dividend. The ex-dividend date is Friday, August 22nd. This represents a yield of 787.0%. Canoe EIT Income Fund's dividend payout ratio is 17.05%.

Canoe EIT Income Fund Stock Performance

The business has a fifty day simple moving average of C$11.25 and a 200-day simple moving average of C$10.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 29.91. The firm has a market cap of C$1.32 billion and a P/E ratio of 3.14.

About Canoe EIT Income Fund

Canoe EIT Income Fund is a closed-ended balanced fund launched and managed by Canoe Financial LP. It is co-managed by Haber Trilix Advisors, LP. The fund invests in the public equity and fixed income markets of Canada and the United States. Its equity portion seeks to invest in the stocks of companies operating across diversified sectors.