🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Eagle Point CEO Majewski buys $99,840 in preferred shares

Published 24/10/2024, 21:12
EIIA
-

GREENWICH, Conn.—Thomas P. Majewski, Chief Executive Officer and Portfolio Manager of Eagle Point Institutional Income Fund (NASDAQ:EIIA), recently purchased 4,000 shares of the company's 8.125% Series A Term Preferred Shares due 2029. The transaction, conducted on October 23, 2024, was valued at approximately $99,840, with shares acquired at an average price of $24.96 each.

This acquisition adds to Majewski's holdings, bringing his total ownership to 4,000 shares. The purchase was made through the Thomas P. Majewski Revocable Trust. The price per share reflects a range of $24.95 to $24.97, according to the filing.

InvestingPro Insights

Thomas P. Majewski's recent purchase of Eagle Point Institutional Income Fund's (NASDAQ:EIIA) preferred shares aligns with the company's stable performance in the market. According to InvestingPro data, EIIA has shown consistent returns across various timeframes, with a 0.65% price total return over the past month, three months, six months, and year-to-date periods.

The CEO's acquisition at an average price of $24.96 per share appears to be in line with the stock's recent trading activity, as the previous closing price was $24.97. This suggests Majewski's confidence in the company's valuation and future prospects.

InvestingPro Tips highlight that EIIA has maintained dividend payments for 3 consecutive years, which may have influenced Majewski's decision to increase his stake in the preferred shares, particularly given their 8.125% yield. Additionally, the company's low price volatility could be attractive to investors seeking stability in their portfolio.

For those interested in a deeper analysis, InvestingPro offers 9 additional tips for EIIA, providing a comprehensive view of the company's financial health and market position. These insights could be valuable for investors considering following Majewski's lead or evaluating EIIA's potential as an investment.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.