Premium Income (TSE:PIC.A) Trading 2.4% Higher - Still a Buy?

Premium Income Corporation (TSE:PIC.A - Get Free Report) shares were up 2.4% during mid-day trading on Wednesday . The company traded as high as C$5.87 and last traded at C$5.87. Approximately 39,543 shares traded hands during trading, an increase of 1% from the average daily volume of 39,331 shares. The stock had previously closed at C$5.73.

Premium Income Trading Down 0.5%

The company has a market cap of C$113.18 million, a PE ratio of 0.00 and a beta of 1.20. The stock has a fifty day moving average of C$5.21 and a 200-day moving average of C$5.68. The company has a debt-to-equity ratio of 562.70, a quick ratio of 1.45 and a current ratio of 1.18.

About Premium Income

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.