Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Share Price Crosses Below 200 Day Moving Average - What's Next?

Key Points

• CIK shares fell below their 200-day moving average of $2.57, reaching a low of $2.44 before closing at $2.46 on trading volume of 547,720 shares.
• The fund declared a $0.02-per-share monthly dividend, payable August 24 to shareholders of record August 17. The dividend equates to an approximately 9.8% annualized yield.
• Institutional investors and hedge funds own 29.49% of CIK, with several major holders—including Northwestern Mutual Wealth Management and Shaker Financial Services—substantially increasing their positions.

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK - Get Free Report)'s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.57 and traded as low as $2.44. Credit Suisse Asset Management Income Fund shares last traded at $2.46, with a volume of 547,720 shares trading hands.

Credit Suisse Asset Management Income Fund Stock Performance

The firm has a 50 day moving average of $2.46 and a 200 day moving average of $2.57.

Credit Suisse Asset Management Income Fund Dividend Announcement

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

Institutional Trading of Credit Suisse Asset Management Income Fund

Several large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 buying an additional 1,427,460 shares during the period. Shaker Financial Services LLC grew its stake in Credit Suisse Asset Management Income Fund by 204.3% in the second quarter. Shaker Financial Services LLC now owns 867,755 shares of the company's stock valued at $2,152,000 after acquiring an additional 582,569 shares during the period. Invesco Ltd. increased its holdings in shares of 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 valued at $1,572,000 after acquiring an additional 7,463 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of 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 acquiring an additional 58,250 shares in the last quarter. Finally, Fiera Capital Corp raised its position in shares of Credit Suisse Asset Management Income Fund by 93.0% during the fourth quarter. Fiera Capital Corp now owns 413,905 shares of the company's stock worth $1,171,000 after purchasing an additional 199,448 shares during the period. Institutional investors and hedge funds own 29.49% of the company's stock.

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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