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

Key Points

• CIK shares fell below their 200-day moving average of $2.50, trading as low as $2.34 before closing at $2.38 on elevated volume of approximately 1.43 million shares.
• The fund announced a monthly dividend of $0.02 per share, implying an annualized yield of approximately 10.1%; the ex-dividend and record dates are September 16.
• Institutional investors own 29.49% of the fund, with several hedge funds initiating positions or increasing holdings recently. CIK is a closed-end fund focused on income-producing corporate bonds, loans and other debt securities, including below-investment-grade assets.

Shares of Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.50 and traded as low as $2.34. Credit Suisse Asset Management Income Fund shares last traded at $2.38, with a volume of 1,425,658 shares changing hands.

Credit Suisse Asset Management Income Fund Stock Performance

The company has a 50 day simple moving average of $2.43 and a 200 day simple moving average of $2.50.

Credit Suisse Asset Management Income Fund Announces Dividend

The company 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. The ex-dividend date is Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 10.1%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. One Capital Management LLC purchased a new stake in Credit Suisse Asset Management Income Fund during the fourth quarter worth approximately $38,000. Two Sigma Securities LLC acquired a new stake in shares of Credit Suisse Asset Management Income Fund in the second quarter worth $78,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Credit Suisse Asset Management Income Fund in the 2nd quarter valued at $148,000. Almitas Capital LLC purchased a new position in shares of Credit Suisse Asset Management Income Fund in the 2nd quarter valued at $155,000. Finally, Susquehanna International Group LLP raised its stake in shares of Credit Suisse Asset Management Income Fund by 45.0% in the 2nd quarter. Susquehanna International Group LLP now owns 63,770 shares of the company's stock valued at $158,000 after acquiring an additional 19,804 shares during the period. Hedge funds and other institutional investors own 29.49% of the company's stock.

Credit Suisse Asset Management Income Fund Company Profile

Credit Suisse Asset Management Income Fund is a closed-end investment company listed on the NYSE American under the symbol CIK. The fund is designed to provide investors with a high level of current income through a professionally managed portfolio of fixed-income securities.

The fund primarily invests in corporate bonds, loans and other debt instruments, including securities that may carry below-investment-grade ratings. Its portfolio may include obligations issued by companies and other borrowers in the United States and international markets, exposing investors to credit, interest-rate and foreign-market risks.

Credit Suisse Asset Management Income Fund was established as part of Credit Suisse Asset Management's closed-end fund offerings.

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