Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK) Short Interest Down 60.1% in June

Key Points

• Short interest fell sharply in Credit Suisse Asset Management Income Fund, dropping 60.1% in June to 68,639 shares, or about 0.2% of the float.
• The fund has seen significant institutional activity, with several investors increasing stakes; hedge funds and institutions now own 29.49% of the stock.
• CIK recently announced a monthly dividend of $0.02 per share, payable July 23, implying an annualized yield of 9.7%.

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK - Get Free Report) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 68,639 shares, a decline of 60.1% from the June 15th total of 172,107 shares. Based on an average daily volume of 622,665 shares, the short-interest ratio is presently 0.1 days. Currently, 0.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its stake in Credit Suisse Asset Management Income Fund by 1,886.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,503,121 shares of the company's stock valued at $4,254,000 after acquiring an additional 1,427,460 shares during the period. Invesco Ltd. raised its position in Credit Suisse Asset Management Income Fund by 1.4% during the second quarter. Invesco Ltd. now owns 531,135 shares of the company's stock worth $1,572,000 after acquiring an additional 7,463 shares during the period. Bank of America Corp DE lifted its holdings in Credit Suisse Asset Management Income Fund by 15.1% during the second quarter. Bank of America Corp DE now owns 443,692 shares of the company's stock valued at $1,313,000 after purchasing an additional 58,250 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Credit Suisse Asset Management Income Fund by 97.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 74,472 shares of the company's stock valued at $211,000 after purchasing an additional 36,825 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of Credit Suisse Asset Management Income Fund by 2,110.1% in the fourth quarter. Osaic Holdings Inc. now owns 74,149 shares of the company's stock valued at $210,000 after purchasing an additional 70,794 shares during the period. Hedge funds and other institutional investors own 29.49% of the company's stock.

Credit Suisse Asset Management Income Fund Price Performance

NYSEAMERICAN CIK opened at $2.48 on Monday. The stock has a 50-day moving average of $2.50 and a 200 day moving average of $2.63. Credit Suisse Asset Management Income Fund has a twelve month low of $2.43 and a twelve month high of $3.04.

Credit Suisse Asset Management Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 16th will be paid a dividend of $0.02 per share. This represents a c) annualized dividend and a dividend yield of 9.7%. The ex-dividend date of this dividend is Thursday, July 16th.

Credit Suisse Asset Management Income Fund Company Profile

Credit Suisse Asset Management Income Fund Inc (NYSE American: CIK) is a closed-end management investment company managed by Credit Suisse Asset Management, one of the world's leading asset managers. The fund's primary objective is to provide shareholders with a high level of current income, with a secondary objective of capital appreciation. It achieves this by investing in a diversified portfolio of income-producing securities across fixed-income and equity markets.

The fund typically allocates assets to a mix of investment-grade and below-investment-grade corporate bonds, bank loans, mortgage- and asset-backed securities, convertible securities and dividend-paying equities.

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