Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Stock Passes Below 200 Day Moving Average – Here’s Why

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.88 and traded as low as $2.73. Credit Suisse Asset Management Income Fund shares last traded at $2.75, with a volume of 518,398 shares traded.

Credit Suisse Asset Management Income Fund Stock Performance

The stock’s 50-day simple moving average is $2.83 and its two-hundred day simple moving average is $2.88.

Credit Suisse Asset Management Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.0225 per share. This represents a c) annualized dividend and a dividend yield of 9.8%. The ex-dividend date is Tuesday, February 17th.

Institutional Investors Weigh In On Credit Suisse Asset Management Income Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Shaker Financial Services LLC grew its position in Credit Suisse Asset Management Income Fund by 46.5% in the 2nd quarter. Shaker Financial Services LLC now owns 306,376 shares of the company’s stock valued at $907,000 after acquiring an additional 97,243 shares during the last quarter. Fiera Capital Corp boosted its stake in shares of Credit Suisse Asset Management Income Fund by 33.8% during the third quarter. Fiera Capital Corp now owns 214,457 shares of the company’s stock valued at $628,000 after purchasing an additional 54,172 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in shares of Credit Suisse Asset Management Income Fund by 6.3% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 63,840 shares of the company’s stock worth $181,000 after purchasing an additional 3,759 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Credit Suisse Asset Management Income Fund in the 4th quarter worth about $29,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Credit Suisse Asset Management Income Fund by 1,886.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,503,121 shares of the company’s stock worth $4,254,000 after buying an additional 1,427,460 shares during the period. 29.49% of the stock is owned by institutional investors.

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.