Premium Income (TSE:PIC.A) Trading Down 1.1% - Here's What Happened

Key Points

• Shares fell 1.1% to C$8.79 on Wednesday (intraday low C$8.74) as volume dropped to 15,731 shares, about 66% below the average session volume.
• The company has a market cap of C$153.47M and a low P/E of 1.83, but carries a very high debt-to-equity ratio of 562.70; its 50‑ and 200‑day SMAs are C$9.22 and C$8.64, respectively.
• Premium Income’s mandate is to pay Class A shareholders distributions from net realized gains, dividends and option premiums, and it invests at least 75% of NAV in five major Canadian banks with up to 25% in National Bank.

Premium Income Corporation (TSE:PIC.A - ) shares fell 1.1% during trading on Wednesday . The company traded as low as C$8.74 and last traded at C$8.79. 15,731 shares were traded during mid-day trading, a decline of 66% from the average session volume of 45,930 shares. The stock had previously closed at C$8.89.

Premium Income Stock Performance

The company has a market capitalization of C$153.47 million, a price-to-earnings ratio of 1.83 and a beta of 1.26. The company's fifty day simple moving average is C$9.22 and its two-hundred day simple moving average is C$8.64. The company has a debt-to-equity ratio of 562.70, a quick ratio of 1.45 and a current ratio 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.

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