Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK) Short Interest Update

Key Points

• Short interest surged 92.7% to 151,468 shares as of July 31, up from 78,620 shares on July 15. Short interest represented approximately 0.3% of outstanding shares, with a 0.4-day short-interest ratio.
• CIK shares traded at $2.44, near their 52-week low of $2.42, while the 50-day and 200-day moving averages stood at $2.46 and $2.57, respectively.
• The fund declared a monthly $0.02 dividend, payable August 24 to shareholders of record August 17, implying an annualized yield of approximately 9.8%. Institutional investors and hedge funds owned 29.49% of the shares.

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK - Get Free Report) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 151,468 shares, a growth of 92.7% from the July 15th total of 78,620 shares. Based on an average trading volume of 399,959 shares, the short-interest ratio is presently 0.4 days. Approximately 0.3% of the shares of the stock are short sold.

Credit Suisse Asset Management Income Fund Stock Performance

Credit Suisse Asset Management Income Fund stock traded down $0.01 during trading hours on Friday, reaching $2.44. 553,699 shares of the company's stock traded hands, compared to its average volume of 438,488. Credit Suisse Asset Management Income Fund has a fifty-two week low of $2.42 and a fifty-two week high of $3.04. The firm's 50 day moving average is $2.46 and its 200-day moving average is $2.57.

Credit Suisse Asset Management Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be paid a $0.02 dividend. The ex-dividend date is Monday, August 17th. This represents a c) annualized dividend and a yield of 9.8%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its holdings in Credit Suisse Asset Management Income Fund by 1,886.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,503,121 shares of the company's stock worth $4,254,000 after acquiring an additional 1,427,460 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in Credit Suisse Asset Management Income Fund during the 2nd quarter worth approximately $2,884,000. Shaker Financial Services LLC lifted its position in shares of Credit Suisse Asset Management Income Fund by 204.3% in the 2nd quarter. Shaker Financial Services LLC now owns 867,755 shares of the company's stock worth $2,152,000 after purchasing an additional 582,569 shares during the period. Invesco Ltd. boosted its stake in shares of Credit Suisse Asset Management Income Fund by 1.4% in the 2nd quarter. Invesco Ltd. now owns 531,135 shares of the company's stock valued at $1,572,000 after purchasing an additional 7,463 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Credit Suisse Asset Management Income Fund by 15.1% in the 2nd 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 during the last quarter. 29.49% of the stock is currently owned by institutional investors and hedge funds.

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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