Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Share Price Passes Below 200-Day Moving Average - Should You Sell?

Key Points

• CIK fell below its 200-day moving average, trading as low as $2.42 versus the $2.52 average, with 441,928 shares changing hands.
• The fund declared a monthly dividend of $0.02 per share, payable September 23 to shareholders of record September 16, representing an annualized yield of approximately 9.9%.
• Institutional investors and hedge funds own 29.49% of the fund, with several firms recently increasing their positions; CIK invests across bonds, loans, mortgage-backed securities, convertibles and dividend-paying equities.

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.52 and traded as low as $2.42. Credit Suisse Asset Management Income Fund shares last traded at $2.42, with a volume of 441,928 shares changing hands.

Credit Suisse Asset Management Income Fund Price Performance

The firm's 50-day moving average price is $2.45 and its 200 day moving average price is $2.52.

Credit Suisse Asset Management Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a c) annualized dividend and a yield of 9.9%.

Hedge Funds Weigh In On Credit Suisse Asset Management Income Fund

A number of institutional investors have recently made changes to their positions in the stock. Dynamic Advisor Solutions LLC increased its position 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 worth $182,000 after purchasing an additional 6,092 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Credit Suisse Asset Management Income Fund by 15.1% during the fourth quarter. Wells Fargo & Company MN now owns 54,361 shares of the company's stock worth $154,000 after buying an additional 7,113 shares in the last quarter. Invesco Ltd. raised its position in shares of Credit Suisse Asset Management Income Fund by 1.4% in the second quarter. Invesco Ltd. now owns 531,135 shares of the company's stock valued at $1,572,000 after buying an additional 7,463 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Credit Suisse Asset Management Income Fund during the second quarter valued at approximately $25,000. Finally, One Capital Management LLC acquired a new stake in Credit Suisse Asset Management Income Fund during the fourth quarter worth approximately $38,000. 29.49% of the stock is owned by institutional investors and hedge funds.

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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