Credit Suisse High Yield Bond Fund (NYSEAMERICAN:DHY) Share Price Passes Above 50-Day Moving Average - Here's Why

Key Points

• Credit Suisse High Yield Bond Fund (NYSEAMERICAN:DHY) briefly moved above its 50-day moving average during trading, reaching as high as $1.78 before last trading near $1.75.
• The fund recently paid a monthly dividend of $0.0155 per share, which implies an annualized yield of about 10.6%.
• Institutional investors have been adding to positions, with firms including Invesco, NewEdge Advisors, and Bank of America increasing their stakes in the fund during the second quarter.

Shares of Credit Suisse High Yield Bond Fund, Inc. (NYSEAMERICAN:DHY - Get Free Report) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $1.76 and traded as high as $1.78. Credit Suisse High Yield Bond Fund shares last traded at $1.75, with a volume of 774,434 shares trading hands.

Credit Suisse High Yield Bond Fund Trading Down 1.7%

The stock has a fifty day simple moving average of $1.76 and a two-hundred day simple moving average of $1.86.

Credit Suisse High Yield Bond Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 16th were given a $0.0155 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date was Thursday, July 16th.

Institutional Investors Weigh In On Credit Suisse High Yield Bond Fund

Hedge funds have recently bought and sold shares of the stock. Invesco Ltd. grew its position in Credit Suisse High Yield Bond Fund by 26.9% in the second quarter. Invesco Ltd. now owns 1,248,454 shares of the real estate investment trust's stock worth $2,659,000 after acquiring an additional 264,382 shares in the last quarter. NewEdge Advisors LLC increased its stake in Credit Suisse High Yield Bond Fund by 26.4% in the 2nd quarter. NewEdge Advisors LLC now owns 94,664 shares of the real estate investment trust's stock worth $202,000 after purchasing an additional 19,764 shares during the period. Raymond James Financial Inc. increased its stake in shares of Credit Suisse High Yield Bond Fund by 200.0% in the second quarter. Raymond James Financial Inc. now owns 36,000 shares of the real estate investment trust's stock worth $77,000 after buying an additional 24,000 shares during the period. Jane Street Group LLC bought a new stake in Credit Suisse High Yield Bond Fund in the 2nd quarter worth $89,000. Finally, Bank of America Corp DE increased its position in shares of Credit Suisse High Yield Bond Fund by 19.6% in the second quarter. Bank of America Corp DE now owns 68,345 shares of the real estate investment trust's stock valued at $146,000 after acquiring an additional 11,197 shares during the period.

About Credit Suisse High Yield Bond Fund

The Credit Suisse High Yield Bond Fund NYSEAMERICAN: DHY is a closed-end management investment company that seeks to provide investors with high current income by primarily investing in below-investment-grade, U.S. dollar-denominated corporate debt securities. The fund offers exposure to a broad array of high-yield bonds issued by companies across various sectors, including industrials, communications, and financial services. It is structured to trade on the NYSE American exchange, enabling investors to gain intraday access to a diversified high-yield portfolio.

In managing its portfolio, the fund adheres to a disciplined credit research process that evaluates issuers' fundamentals, cash flow profiles, and relative valuations.

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