Premium Income Corporation (TSE:PIC.A - Get Free Report) dropped 0.9% on Monday . The stock traded as low as C$6.64 and last traded at C$6.64. Approximately 52,803 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 46,017 shares. The stock had previously closed at C$6.70.
Premium Income Price Performance
The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 562.70. The firm has a market capitalization of C$134.30 million, a price-to-earnings ratio of 0.00 and a beta of 1.20. The company's 50 day moving average is C$6.38 and its 200-day moving average is C$5.75.
About Premium Income
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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.
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