Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK) Sees Significant Drop in Short Interest

Key Points

• Short interest fell 77% to 23,950 shares as of August 31, representing just 0.1% of shares outstanding and 0.1 days of average trading volume.
• Institutional ownership stands at 29.49%, with major increases from Northwestern Mutual Wealth Management, Shaker Financial Services, and Fiera Capital, while Landscape Capital Management and Bank of America initiated new positions.
• The fund traded at $2.41, near its one-year low, and announced a $0.02 monthly dividend payable September 23, implying an annualized yield of about 10.0%.

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK - Get Free Report) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 23,950 shares, a drop of 77.0% from the August 15th total of 104,305 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 350,090 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its position in Credit Suisse Asset Management Income Fund by 1,886.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,503,121 shares of the company's stock valued at $4,254,000 after purchasing an additional 1,427,460 shares during the period. Landscape Capital Management L.L.C. bought a new stake in shares of Credit Suisse Asset Management Income Fund during the second quarter worth approximately $2,884,000. Shaker Financial Services LLC lifted its holdings in Credit Suisse Asset Management Income Fund by 204.3% in the second quarter. Shaker Financial Services LLC now owns 867,755 shares of the company's stock valued at $2,152,000 after buying an additional 582,569 shares during the period. Bank of America Corp DE acquired a new position in Credit Suisse Asset Management Income Fund in the second quarter valued at approximately $535,000. Finally, Fiera Capital Corp boosted its stake in Credit Suisse Asset Management Income Fund by 93.0% in the fourth quarter. Fiera Capital Corp now owns 413,905 shares of the company's stock valued at $1,171,000 after acquiring an additional 199,448 shares during the last quarter. 29.49% of the stock is owned by institutional investors.

Credit Suisse Asset Management Income Fund Stock Performance

NYSEAMERICAN CIK opened at $2.41 on Friday. The stock's 50 day simple moving average is $2.44 and its 200 day simple moving average is $2.51. Credit Suisse Asset Management Income Fund has a one year low of $2.41 and a one year high of $3.04.

Credit Suisse Asset Management Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.02 per share. This represents a c) annualized dividend and a dividend yield of 10.0%. The ex-dividend date is Wednesday, September 16th.

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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