Canoe EIT Income Fund (TSE:EIT.UN) Trading Up 0.1% - Should You Buy?

Key Points

• Shares of Canoe EIT Income Fund were up 0.1% to C$16.64 midday, with about 153,625 shares traded (roughly 23% below its average), and 50-day/200-day moving averages at C$16.72 and C$16.04 respectively.
• The fund paid a monthly $0.10 dividend on March 13 (ex-dividend Feb 23), implying an annualized yield of 7.2% and a payout ratio of 38.1%.
• Canoe EIT has a market cap of C$3.06 billion, a P/E ratio of 5.28 and a low beta of 0.23, and seeks to maximize monthly distributions and NAV through a diversified mix of equity and debt investments.

Shares of Canoe EIT Income Fund (TSE:EIT.UN - ) were up 0.1% during mid-day trading on Tuesday . The stock traded as high as C$16.66 and last traded at C$16.64. Approximately 153,625 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 199,961 shares. The stock had previously closed at C$16.63.

Canoe EIT Income Fund Stock Up 0.1%

The company has a fifty day moving average price of C$16.72 and a 200-day moving average price of C$16.04. The stock has a market capitalization of C$3.06 billion, a P/E ratio of 5.28 and a beta of 0.23.

Canoe EIT Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, March 13th were issued a $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 7.2%. The ex-dividend date of this dividend was Monday, February 23rd. Canoe EIT Income Fund's payout ratio is 38.10%.

About Canoe EIT Income Fund

The investment objectives of the Fund are to maximize monthly distributions relative to risk and maximize Net Asset Value, while maintaining and expanding a diversified investment portfolio, primarily through acquiring, investing, holding, transferring, disposing of or otherwise dealing with or in equity and debt securities of corporations, partnerships, or other issuers and such other investments as the Manager may determine in its sole discretion from time to time. The investment objectives set forth above may be achieved through direct acquisitions, investments or, at the election of the Manager, through exchange offers completed by the Fund from time to time.

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