Premium Income (TSE:PIC.A) Stock Price Breaks Above 200-Day Moving Average – Time to Sell?

Premium Income Corporation (TSE:PIC.A)’s share price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$9.92 and traded as high as C$10.08. Premium Income shares last traded at C$10.04, with a volume of 29,723 shares changing hands.

Premium Income Stock Performance

The firm has a market capitalization of C$213.50 million, a PE ratio of 1.49 and a beta of 1.20. The company has a debt-to-equity ratio of 562.70, a current ratio of 1.18 and a quick ratio of 1.45. The company’s fifty day simple moving average is C$9.72 and its 200 day simple moving average is C$9.93.

Premium Income Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 30th will be paid a $0.09 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.08 dividend on an annualized basis and a yield of 10.6%. Premium Income’s dividend payout ratio (DPR) is presently 9.92%.

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.