EIC: Little Surprise

The Eagle Point Income Company (EIC) killed it today with a 6.5% jump on the back of a big rise in the monthly NAV (the fund only provides NAVs on a monthly basis).

The market reaction tells us that the vast majority of investors didn’t have much of a clue of where the NAV of the fund was. Not us. By calculating daily estimates we had a good gauge of the fund’s value. On the day of the release we estimated the NAV to be $16.22 versus the official $16.05. Not bad.

The chart, which we update daily, showed clearly how attractive the fund’s discount was. And now the market agrees.

Thanks for reading.

Check out the rest of our daily market commentary, as well as our Income Portfolios and interactive Investor Tools at Systematic Income.

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