Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Share Price Passes Below 200 Day Moving Average - Here's Why

Key Points

• Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) fell below its 200-day moving average, trading as low as $2.54 and last changing hands at $2.56. The stock was down about 0.8% on the day.
• The fund announced a monthly dividend of $0.02 per share, payable on May 22 to shareholders of record on May 15. That payout implies a 9.4% dividend yield.
• Institutional investors have been active in the name, with several funds increasing their stakes; overall, hedge funds and other institutions own 29.49% of the stock.

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.74 and traded as low as $2.54. Credit Suisse Asset Management Income Fund shares last traded at $2.56, with a volume of 746,410 shares trading hands.

Credit Suisse Asset Management Income Fund Trading Down 0.8%

The stock has a fifty day moving average of $2.58 and a two-hundred day moving average of $2.74.

Credit Suisse Asset Management Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 15th will be given a dividend of $0.02 per share. This represents a c) annualized dividend and a dividend yield of 9.4%. The ex-dividend date is Friday, May 15th.

Hedge Funds Weigh In On Credit Suisse Asset Management Income Fund

A number of large investors have recently made changes to their positions in the stock. Fiera Capital Corp boosted its holdings in 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 buying an additional 199,448 shares in the last quarter. Jane Street Group LLC purchased a new position in Credit Suisse Asset Management Income Fund in the second quarter valued at about $59,000. Invesco Ltd. lifted its position in shares of Credit Suisse Asset Management Income Fund by 1.4% during the 2nd 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 during the period. Shaker Financial Services LLC boosted its stake in shares of Credit Suisse Asset Management Income Fund by 190.9% during the 4th quarter. Shaker Financial Services LLC now owns 152,270 shares of the company's stock worth $431,000 after acquiring an additional 99,934 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its stake in shares of Credit Suisse Asset Management Income Fund by 2,110.1% during the 4th quarter. Osaic Holdings Inc. now owns 74,149 shares of the company's stock worth $210,000 after acquiring an additional 70,794 shares in the last quarter. Hedge funds and other institutional investors own 29.49% of the company's stock.

About Credit Suisse Asset Management Income Fund

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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