Canoe EIT Income Fund (OTCMKTS:ENDTF) Shares Cross Below 50-Day Moving Average - Should You Sell?

Key Points

• Canoe EIT Income Fund shares have dropped below their 50-day moving average, trading at C$11.10 compared to a 50-day average of C$11.32.
• The fund recently announced a dividend payout of $0.0731, yielding a remarkable 766.0% with a dividend payout ratio of 17.05%.
• Canoe EIT Income Fund has a market capitalization of C$1.33 billion and a PE ratio of 3.15, reflecting its current financial standing.

Canoe EIT Income Fund (OTCMKTS:ENDTF - Get Free Report) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$11.32 and traded as low as C$11.10. Canoe EIT Income Fund shares last traded at C$11.10, with a volume of 29,681 shares trading hands.

Canoe EIT Income Fund Trading Down 5.7%

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 stock's 50 day moving average price is C$11.31 and its 200-day moving average price is C$10.90. The stock has a market capitalization of C$1.24 billion and a P/E ratio of 2.95.

Canoe EIT Income Fund Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, August 15th. Shareholders of record on Wednesday, July 23rd will be paid a $0.0731 dividend. This represents a yield of 766.0%. The ex-dividend date is Tuesday, July 22nd. Canoe EIT Income Fund's dividend payout ratio (DPR) 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.