Economic Investment Trust (TSE:EVT) Trading 0.5% Higher - Here's Why

Key Points

• Economic Investment Trust's (TSE:EVT) share price increased by 0.5% to C$19.10, though the trading volume was significantly lower than average.
• The company announced a dividend cut, paying a quarterly dividend of $0.03, which translates to an annualized yield of 0.6%.
• Economic Investment Trust is a mutual fund managed by Burgundy Asset Management, focusing on public equity markets globally across diversified sectors.

Shares of Economic Investment Trust Limited (TSE:EVT - Get Free Report) rose 0.5% on Tuesday . The stock traded as high as C$19.10 and last traded at C$19.10. Approximately 800 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 5,216 shares. The stock had previously closed at C$19.00.

Economic Investment Trust Trading Up 0.8%

The stock has a market cap of C$108.19 million, a price-to-earnings ratio of 0.37 and a beta of 0.75. The firm's 50 day moving average is C$19.90 and its two-hundred day moving average is C$112.24.

Economic Investment Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were issued a $0.03 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.12 annualized dividend and a yield of 0.6%.

Economic Investment Trust Company Profile

Economic Investment Trust Limited is a closed-ended equity mutual fund launched and managed by Burgundy Asset Management Ltd. The fund invests in public equity markets across the globe. It seeks to invest in stocks of companies operating across diversified sectors. The fund benchmarks the performance of its portfolio against the S&P/TSX Composite Index, MSCI World Index, and S&P 500 Index.