Canoe EIT Income Fund (OTCMKTS:ENDTF) Stock Passes Below 50 Day Moving Average - Here's What Happened

Key Points

• Canoe EIT Income Fund shares dropped below their fifty-day moving average, trading at C$11.02 compared to the average of C$11.28, indicating potential downward momentum in the stock price.
• The company announced a dividend of $0.0731 per share, with an impressive yield of 766.0%, though its payout ratio is a modest 17.05%.
• Canoe EIT Income Fund has a market capitalization of C$1.32 billion and a low price-to-earnings ratio of 3.13, suggesting it may be undervalued relative to its earnings.

Canoe EIT Income Fund (OTCMKTS:ENDTF - Get Free Report)'s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$11.28 and traded as low as C$11.02. Canoe EIT Income Fund shares last traded at C$11.02, with a volume of 100 shares.

Canoe EIT Income Fund Trading Down 0.6%

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 company has a market cap of C$1.32 billion and a P/E ratio of 3.13. The firm's 50 day moving average is C$11.26 and its two-hundred day moving average is C$10.91.

Canoe EIT Income Fund Cuts Dividend

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

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.