Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Share Price Crosses Above 50 Day Moving Average - What's Next?

Key Points

• Credit Suisse Asset Management Income Fund shares rose above their 50-day moving average of $2.35, trading as high as $2.37; the 200-day average is $2.52.
• The fund declared a monthly dividend of $0.02 per share, equivalent to $0.24 annually and a 10.1% yield. The dividend is payable November 23 to shareholders of record November 16.
• Institutional investors own 29.49% of the fund, with several firms adding or initiating positions in recent quarters.

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK - Get Free Report)'s share price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $2.35 and traded as high as $2.37. Credit Suisse Asset Management Income Fund shares last traded at $2.37, with a volume of 494,673 shares traded.

Credit Suisse Asset Management Income Fund Price Performance

The stock's 50-day simple moving average is $2.35 and its 200-day simple moving average is $2.52.

Credit Suisse Asset Management Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 16th will be issued a dividend of $0.02 per share. This represents a $0.24 dividend on an annualized basis and a yield of 10.1%. The ex-dividend date is Monday, November 16th.

Institutional Trading of Credit Suisse Asset Management Income Fund

Hedge funds have recently made changes to their positions in the company. Landscape Capital Management L.L.C. bought a new position in shares of Credit Suisse Asset Management Income Fund in the second quarter worth $2,884,000. Shaker Financial Services LLC boosted its stake in Credit Suisse Asset Management Income Fund by 204.3% in the 2nd quarter. Shaker Financial Services LLC now owns 867,755 shares of the company's stock worth $2,152,000 after purchasing an additional 582,569 shares during the period. Bank of America Corp DE purchased a new position in Credit Suisse Asset Management Income Fund during the 2nd quarter valued at about $535,000. Dynamic Advisor Solutions LLC grew its holdings in Credit Suisse Asset Management Income Fund by 9.0% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 73,477 shares of the company's stock valued at $182,000 after buying an additional 6,092 shares in the last quarter. Finally, Calamos Advisors LLC purchased a new position in Credit Suisse Asset Management Income Fund during the 3rd quarter valued at about $167,000. 29.49% of the stock is currently owned by institutional investors.

About Credit Suisse Asset Management Income Fund

Credit Suisse Asset Management Income Fund (NYSE American: CIK) is a closed-end investment fund designed to provide investors with a high level of current income, with capital appreciation as a secondary objective. Unlike an operating company, the fund does not sell products or services; it invests shareholders' capital in a diversified portfolio of income-producing securities.

The fund generally focuses on fixed-income investments, which may include corporate bonds, government and government-related obligations, mortgage-backed securities and other debt instruments.

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