Robinson Capital Management LLC Reduces Stock Position in Credit Suisse High Yield Bond Fund, Inc. $DHY

Key Points

• Robinson Capital Management cut its Credit Suisse High Yield Bond Fund position by 90.6% in the second quarter, selling 2.85 million shares and retaining 294,611 shares worth approximately $524,000.
• DHY shares opened at $1.70, near their one-year low of $1.69, compared with a one-year high of $2.13. The fund is scheduled for a 1-for-10 reverse split before market open on September 30.
• The fund declared a monthly dividend of $0.0155 per share, payable September 23 to shareholders of record September 16, representing an annualized yield of approximately 10.9%.

Robinson Capital Management LLC cut its holdings in Credit Suisse High Yield Bond Fund, Inc. (NYSEAMERICAN:DHY - Free Report) by 90.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 294,611 shares of the real estate investment trust's stock after selling 2,849,300 shares during the period. Robinson Capital Management LLC owned about 0.28% of Credit Suisse High Yield Bond Fund worth $524,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Rareview Capital LLC bought a new position in shares of Credit Suisse High Yield Bond Fund in the 2nd quarter valued at about $1,861,000. Janney Montgomery Scott LLC increased its stake in Credit Suisse High Yield Bond Fund by 5.9% during the first quarter. Janney Montgomery Scott LLC now owns 158,866 shares of the real estate investment trust's stock worth $302,000 after acquiring an additional 8,837 shares during the last quarter. Fiera Capital Corp raised its position in Credit Suisse High Yield Bond Fund by 47.3% during the fourth quarter. Fiera Capital Corp now owns 611,983 shares of the real estate investment trust's stock valued at $1,224,000 after purchasing an additional 196,469 shares during the period. Integrity Advisory Solutions LLC raised its position in Credit Suisse High Yield Bond Fund by 24.9% during the fourth quarter. Integrity Advisory Solutions LLC now owns 26,501 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 5,280 shares during the period. Finally, World Investment Advisors bought a new stake in shares of Credit Suisse High Yield Bond Fund in the 4th quarter valued at approximately $106,000.

Credit Suisse High Yield Bond Fund Stock Performance

Shares of Credit Suisse High Yield Bond Fund stock opened at $1.70 on Thursday. The stock has a 50 day moving average price of $1.74 and a 200-day moving average price of $1.79. Credit Suisse High Yield Bond Fund, Inc. has a one year low of $1.69 and a one year high of $2.13.

Shares of Credit Suisse High Yield Bond Fund are set 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 market closes on Tuesday, September 29th.

Credit Suisse High Yield Bond Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.0155 per share. This represents a c) annualized dividend and a yield of 10.9%. The ex-dividend date of this dividend is Wednesday, September 16th.

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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