Eagle Point Income (NYSE:EIC) Upgraded to “Strong-Buy” at B. Riley

B. Riley upgraded shares of Eagle Point Income (NYSE:EIC) to a strong-buy rating in a research report report published on Tuesday,Zacks.com reports.

Eagle Point Income Price Performance

Shares of NYSE:EIC opened at $16.25 on Tuesday. Eagle Point Income has a 12 month low of $14.78 and a 12 month high of $16.75. The stock’s 50 day moving average price is $15.74 and its 200 day moving average price is $15.78.

Eagle Point Income Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, January 13th.

Institutional Trading of Eagle Point Income

A number of large investors have recently added to or reduced their stakes in the business. Main Street Financial Solutions LLC acquired a new position in shares of Eagle Point Income in the 2nd quarter valued at $160,000. Webster Bank N. A. purchased a new stake in Eagle Point Income during the third quarter valued at about $44,000. Graypoint LLC boosted its holdings in shares of Eagle Point Income by 4.0% in the third quarter. Graypoint LLC now owns 165,323 shares of the company’s stock worth $2,665,000 after buying an additional 6,325 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Eagle Point Income in the third quarter worth approximately $216,000.

Eagle Point Income Company Profile

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.