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

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.82 and traded as low as $2.46. Credit Suisse Asset Management Income Fund shares last traded at $2.46, with a volume of 412,829 shares trading hands.

Credit Suisse Asset Management Income Fund Trading Down 0.8%

The business’s 50 day moving average price is $2.71 and its 200-day moving average price is $2.82.

Credit Suisse Asset Management Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 16th were given a dividend of $0.02 per share. The ex-dividend date was Monday, March 16th. This represents a c) annualized dividend and a yield of 9.8%.

Institutional Trading of Credit Suisse Asset Management Income Fund

Several hedge funds have recently modified their holdings of CIK. Raymond James Financial Inc. acquired a new position in Credit Suisse Asset Management Income Fund during the second quarter worth $25,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Credit Suisse Asset Management Income Fund during the 4th quarter worth $29,000. World Investment Advisors purchased a new stake in shares of Credit Suisse Asset Management Income Fund during the 3rd quarter worth $32,000. Tactive Advisors LLC acquired a new position in shares of Credit Suisse Asset Management Income Fund during the 2nd quarter worth $37,000. Finally, One Capital Management LLC acquired a new position in shares of Credit Suisse Asset Management Income Fund during the 4th quarter worth $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.