Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Stock Price Passes Below 200-Day Moving Average - Should You Sell?

Key Points

• Credit Suisse Asset Management Income Fund (CIK) shares dropped below their 200-day moving average, trading as low as $2.46 versus the 200-day MA of $2.82 (50-day MA $2.71) on notable volume.
• The fund paid a monthly dividend of $0.02 (ex-dividend March 16, paid March 23), implying a roughly 9.8% yield.
• Institutional investors have been active buyers—Northwestern Mutual boosted its position by 1,886.7% (adding ~1.43M shares)—and institutions now own about 29.5% of the stock.

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK - Get Free Report) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.82 and traded as low as $2.46. Credit Suisse Asset Management Income Fund shares last traded at $2.46, with a volume of 412,829 shares trading hands.

Credit Suisse Asset Management Income Fund Stock Down 0.8%

The company's 50 day simple moving average is $2.71 and its 200 day simple moving average is $2.82.

Credit Suisse Asset Management Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 16th were issued a $0.02 dividend. The ex-dividend date was Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 9.8%.

Institutional Investors Weigh In On Credit Suisse Asset Management Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its position in Credit Suisse Asset Management Income Fund by 1,886.7% in 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 last quarter. Invesco Ltd. grew 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 worth $1,572,000 after purchasing an additional 7,463 shares during the last quarter. Bank of America Corp DE increased its position 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 worth $1,313,000 after purchasing an additional 58,250 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 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 in the last quarter. Finally, Shaker Financial Services LLC lifted its holdings in shares of Credit Suisse Asset Management Income Fund by 190.9% in the 4th quarter. Shaker Financial Services LLC now owns 152,270 shares of the company's stock valued at $431,000 after purchasing an additional 99,934 shares during the last quarter. 29.49% of the stock is currently owned by institutional investors and hedge funds.

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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