Canoe EIT Income Fund (TSE:EIT.UN) Sets New 12-Month High – Time to Buy?

Canoe EIT Income Fund (TSE:EIT.UN) shares reached a new 52-week high during trading on Monday . The company traded as high as C$16.80 and last traded at C$16.70, with a volume of 71887 shares trading hands. The stock had previously closed at C$16.63.

Canoe EIT Income Fund Stock Up 0.4%

The company’s 50 day moving average price is C$15.74 and its two-hundred day moving average price is C$15.51. The stock has a market cap of C$3.07 billion, a P/E ratio of 5.30 and a beta of 0.35.

Canoe EIT Income Fund Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 14th were paid a $0.10 dividend. The ex-dividend date was Wednesday, October 22nd. This represents a c) dividend on an annualized basis and a yield of 7.2%. Canoe EIT Income Fund’s dividend payout ratio (DPR) is 38.10%.

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.