Premium Income (TSE:PIC.A) Shares Down 1.5% - Here's Why

Premium Income Corporation (TSE:PIC.A - Get Free Report) was down 1.5% on Friday . The company traded as low as C$5.32 and last traded at C$5.32. Approximately 18,363 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 37,713 shares. The stock had previously closed at C$5.40.

Premium Income Stock Down 0.6 %

The firm's 50 day moving average price is C$5.72 and its two-hundred day moving average price is C$5.34. 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 capitalization of C$103.30 million, a P/E ratio of 0.00 and a beta of 1.20.

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.