Premium Income (TSE:PIC.A) Hits New 52-Week Low - Here's Why

Premium Income Corporation (TSE:PIC.A - Get Free Report) shares hit a new 52-week low during trading on Friday . The company traded as low as C$4.82 and last traded at C$4.92, with a volume of 84263 shares traded. The stock had previously closed at C$5.09.

Premium Income Price Performance

The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 562.70. The company has a market cap of C$98.84 million, a PE ratio of 0.00 and a beta of 1.20. The firm has a 50 day moving average of C$5.50 and a two-hundred day moving average of C$5.43.

About Premium Income

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.