Credit Suisse High Yield Bond Fund (NYSEAMERICAN:DHY) Shares Pass Below 200 Day Moving Average - What's Next?

Key Points

• DHY shares fell below their 200-day moving average, trading as low as $1.71 and last changing hands at $1.72, below the $1.82 long-term average.
• The fund announced a 1-for-10 reverse split scheduled before the market opens on September 30, with shareholder holdings adjusted after the September 29 close.
• DHY declared a monthly dividend of $0.0155 per share, equivalent to an annualized yield of about 10.8%; several institutional investors also increased their positions during the second quarter.

Shares of Credit Suisse High Yield Bond Fund, Inc. (NYSEAMERICAN:DHY - Get Free Report) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.82 and traded as low as $1.71. Credit Suisse High Yield Bond Fund shares last traded at $1.72, with a volume of 539,499 shares traded.

Credit Suisse High Yield Bond Fund Stock Down 0.6%

The company's fifty day moving average is $1.75 and its two-hundred day moving average is $1.82.

Credit Suisse High Yield Bond Fund shares are scheduled to reverse split before the market opens on Wednesday, September 30th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, September 29th.

Credit Suisse High Yield Bond Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be issued a $0.0155 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date is Monday, August 17th.

Institutional Investors Weigh In On Credit Suisse High Yield Bond Fund

Several institutional investors have recently modified their holdings of the company. Invesco Ltd. boosted its position in shares of Credit Suisse High Yield Bond Fund by 26.9% during the 2nd 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 raised its position in shares of Credit Suisse High Yield Bond Fund by 26.4% during the 2nd quarter. NewEdge Advisors LLC now owns 94,664 shares of the real estate investment trust's stock worth $202,000 after acquiring an additional 19,764 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Credit Suisse High Yield Bond Fund by 200.0% during the second quarter. Raymond James Financial Inc. now owns 36,000 shares of the real estate investment trust's stock worth $77,000 after purchasing an additional 24,000 shares during the last quarter. Jane Street Group LLC purchased a new stake in Credit Suisse High Yield Bond Fund during the second quarter worth approximately $89,000. Finally, Bank of America Corp DE lifted its stake in Credit Suisse High Yield Bond Fund by 19.6% during the second quarter. Bank of America Corp DE now owns 68,345 shares of the real estate investment trust's stock worth $146,000 after purchasing an additional 11,197 shares during the last quarter.

Credit Suisse High Yield Bond Fund Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source