Premium Income (TSE:PIC.A) Reaches New 1-Year High - Here's What Happened

Key Points

• Premium Income Corporation's stock reached a new 52-week high of C$7.96 during trading, closing at C$7.76.
• The company has a market cap of C$124.92 million and a debt-to-equity ratio of 562.70.
• Premium Income primarily invests in common shares of major Canadian banks, focusing on the top five financial institutions in the country.

Premium Income Corporation (TSE:PIC.A - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as C$7.96 and last traded at C$7.76, with a volume of 25550 shares changing hands. The stock had previously closed at C$7.91.

Premium Income Trading Down 1.0%

The company has a debt-to-equity ratio of 562.70, a quick ratio of 1.45 and a current ratio of 1.18. The company has a 50 day simple moving average of C$7.08 and a two-hundred day simple moving average of C$6.03. The company has a market cap of C$130.79 million, a PE ratio of 2.37 and a beta of 1.18.

Premium Income Company Profile

to provide Class A shareholders with quarterly cash distributions equal to the amount, if any, by which the net realized capital gains, dividends and option premiums (other than option premiums in respect of options outstanding at year-end) earned on the Funds portfolio in any year, net of expenses and loss carry forwards, exceed the amount of the distributions paid on Class A shares upon windup of the Fund To accomplish its objectives, the Fund invests at least 75 percent of its net asset value (``NAV) in common shares of the Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank (collectively, the ``Banks) and may also invest up to 25 percent of its NAV in common shares of National Bank of Canada.