Premium Income (TSE:PIC.A) Stock Price Up 0.2% – Should You Buy?

Premium Income Corporation (TSE:PIC.A)’s stock price shot up 0.2% on Wednesday . The stock traded as high as C$9.23 and last traded at C$9.22. 25,348 shares changed hands during trading, a decline of 54% from the average session volume of 55,289 shares. The stock had previously closed at C$9.20.

Premium Income Stock Performance

The firm’s 50 day moving average is C$9.06 and its 200-day moving average is C$8.18. The company has a debt-to-equity ratio of 562.70, a quick ratio of 1.45 and a current ratio of 1.18. The stock has a market capitalization of C$160.98 million, a price-to-earnings ratio of 2.91 and a beta of 1.47.

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.