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.

Canoe EIT Income Fund (OTCMKTS:ENDTF - Get Free Report) saw unusually-strong trading volume on Tuesday following a dividend announcement from the company. Approximately 30,223 shares changed hands during 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. Investors of record on Monday, August 25th will be paid a dividend of $0.0726 per share. This represents a dividend yield of 787.0%. The ex-dividend date is Friday, August 22nd. Canoe EIT Income Fund's payout ratio is currently 17.05%.

Canoe EIT Income Fund Stock Performance

The business's 50 day moving average is C$11.24 and its two-hundred day moving average is C$10.92. 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 capitalization 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.