Eagle Point Income Inc. (EICA) is a closed-end fund that invests primarily in a diversified portfolio of senior secured debt issued by U.S. middle-market companies. The fund's objective is to provide investors with a high level of current income and capital appreciation. The fund is managed by Eagle Point Credit Management, an experienced credit investment firm.
Eagle Point Income Inc. was listed on the New York Stock Exchange on November 14, 2019. The fund has a current net asset value (NAV) of $10.59 per share as of February 24, 2023. The fund pays a monthly distribution of $0.07 per share, which represents a current yield of approximately 8%.
As of December 31, 2021, the fund had total net assets of $422.3 million and held investments in 109 portfolio companies. The fund's portfolio is well-diversified across various sectors, including healthcare, consumer discretionary, technology, and energy.
Eagle Point Credit Management's investment approach is to focus on a bottom-up fundamental analysis of individual credits. The firm seeks to invest in companies with strong credit profiles, stable cash flows, and sustainable competitive advantages. The firm's investment team has extensive experience in credit research, portfolio management, and risk management.
Investing in EICA may be suitable for investors seeking a high level of current income and potential capital appreciation through exposure to a diversified portfolio of senior secured debt issued by U.S. middle-market companies. However, as with any investment, there are risks to consider, including credit risk, interest rate risk, liquidity risk, and market risk. It is important to carefully read the fund's prospectus and consult with a financial advisor before making any investment decisions.
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