Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Stock Price Crosses Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• CIK shares fell below their 200-day moving average, trading as low as $2.44 versus the $2.60 long-term average. The stock was down 0.8%, with 50-day average price at $2.48.
• The fund recently paid a $0.02 monthly dividend, equivalent to an annualized yield of approximately 9.8%.
• Institutional ownership stands at 29.49%, with several investment firms—including Northwestern Mutual Wealth Management and Osaic Holdings—significantly increasing their positions.

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK - Get Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.60 and traded as low as $2.44. Credit Suisse Asset Management Income Fund shares last traded at $2.44, with a volume of 273,263 shares trading hands.

Credit Suisse Asset Management Income Fund Trading Down 0.8%

The company has a 50-day moving average price of $2.48 and a 200-day moving average price of $2.60.

Credit Suisse Asset Management Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 16th were given a dividend of $0.02 per share. This represents a c) dividend on an annualized basis and a yield of 9.8%. The ex-dividend date was Thursday, July 16th.

Institutional Investors Weigh In On Credit Suisse Asset Management Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Credit Suisse Asset Management Income Fund by 1,886.7% during the fourth 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. Shaker Financial Services LLC boosted its stake in Credit Suisse Asset Management Income Fund by 204.3% during the 2nd quarter. Shaker Financial Services LLC now owns 867,755 shares of the company's stock valued at $2,152,000 after purchasing an additional 582,569 shares in the last quarter. Fiera Capital Corp increased its position in shares of Credit Suisse Asset Management Income Fund by 93.0% during the 4th quarter. Fiera Capital Corp now owns 413,905 shares of the company's stock valued at $1,171,000 after purchasing an additional 199,448 shares during the period. Osaic Holdings Inc. raised its stake in shares of Credit Suisse Asset Management Income Fund by 2,110.1% in the 4th quarter. Osaic Holdings Inc. now owns 74,149 shares of the company's stock worth $210,000 after buying an additional 70,794 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Credit Suisse Asset Management Income Fund by 15.1% in the second quarter. Bank of America Corp DE now owns 443,692 shares of the company's stock valued at $1,313,000 after buying an additional 58,250 shares during the period. 29.49% of the stock is currently owned by institutional investors.

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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