Canoe EIT Income Fund (OTCMKTS:ENDTF) Stock Crosses Below Fifty Day Moving Average - Here's What Happened

Key Points

• Canoe EIT Income Fund stock price fell below its 50-day moving average of C$11.10, trading at C$11.02 with a volume of 500 shares.
• The company announced a dividend cut, with a new dividend of $0.0723 per share to be paid on October 15th, reflecting a high yield of 772.0%.
• Canoe EIT Income Fund has a market cap of C$1.32 billion and a price-to-earnings ratio of 3.13, indicating a potentially undervalued stock.

Canoe EIT Income Fund (OTCMKTS:ENDTF - )'s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$11.10 and traded as low as C$11.02. Canoe EIT Income Fund shares last traded at C$11.02, with a volume of 500 shares traded.

Canoe EIT Income Fund Trading Down 0.7%

The company's 50 day simple moving average is C$11.10 and its 200 day simple moving average is C$11.02. The firm has a market cap of C$1.32 billion and a price-to-earnings ratio of 3.13. The company has a debt-to-equity ratio of 29.91, a current ratio of 0.96 and a quick ratio of 0.96.

Canoe EIT Income Fund Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 23rd will be paid a dividend of $0.0723 per share. The ex-dividend date is Monday, September 22nd. This represents a dividend yield of 772.0%. Canoe EIT Income Fund's payout ratio is presently 17.05%.

Canoe EIT Income Fund Company Profile

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.

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