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

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 172,107 shares, an increase of 143.5% from the May 31st total of 70,678 shares. Based on an average daily volume of 676,457 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.4% of the shares of the stock are sold short.

Credit Suisse Asset Management Income Fund Stock Performance

Credit Suisse Asset Management Income Fund stock traded down $0.01 during trading on Wednesday, reaching $2.46. 234,951 shares of the company were exchanged, compared to its average volume of 511,920. The stock’s 50 day simple moving average is $2.52 and its two-hundred day simple moving average is $2.65. Credit Suisse Asset Management Income Fund has a 52-week low of $2.43 and a 52-week high of $3.04.

Credit Suisse Asset Management Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th were paid a $0.02 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 9.7%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CIK. Compound Planning Inc. purchased a new stake in shares of Credit Suisse Asset Management Income Fund in the fourth quarter valued at about $43,000. Osaic Holdings Inc. raised its stake in Credit Suisse Asset Management Income Fund by 2,110.1% during the fourth quarter. Osaic Holdings Inc. now owns 74,149 shares of the company’s stock worth $210,000 after purchasing an additional 70,794 shares during the period. Wells Fargo & Company MN boosted its holdings in Credit Suisse Asset Management Income Fund by 15.1% in the 4th quarter. Wells Fargo & Company MN now owns 54,361 shares of the company’s stock valued at $154,000 after purchasing an additional 7,113 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Credit Suisse Asset Management Income Fund by 97.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 74,472 shares of the company’s stock valued at $211,000 after purchasing an additional 36,825 shares during the last quarter. Finally, Fiera Capital Corp grew its stake in shares of Credit Suisse Asset Management Income Fund by 93.0% in the 4th quarter. Fiera Capital Corp now owns 413,905 shares of the company’s stock valued at $1,171,000 after buying an additional 199,448 shares during the period. Institutional investors and hedge funds own 29.49% of the company’s stock.

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.