Canoe EIT Income Fund (TSE:EIT.UN) Reaches New 12-Month High – Should You Buy?

Shares of Canoe EIT Income Fund (TSE:EIT.UN) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$17.29 and last traded at C$17.29, with a volume of 116061 shares. The stock had previously closed at C$17.12.

Canoe EIT Income Fund Stock Up 0.8%

The business has a 50-day moving average price of C$16.71 and a 200-day moving average price of C$16.28. The firm has a market capitalization of C$3.22 billion, a price-to-earnings ratio of 8.63 and a beta of 0.22.

Canoe EIT Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, March 13th. Investors of record on Friday, March 13th were given a $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend was Monday, February 23rd. Canoe EIT Income Fund’s dividend payout ratio is presently 60.00%.

About Canoe EIT Income Fund

The investment objectives of the Fund are to maximize monthly distributions relative to risk and maximize Net Asset Value, while maintaining and expanding a diversified investment portfolio, primarily through acquiring, investing, holding, transferring, disposing of or otherwise dealing with or in equity and debt securities of corporations, partnerships, or other issuers and such other investments as the Manager may determine in its sole discretion from time to time. The investment objectives set forth above may be achieved through direct acquisitions, investments or, at the election of the Manager, through exchange offers completed by the Fund from time to time.