Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.83 and traded as high as $2.86. Credit Suisse Asset Management Income Fund shares last traded at $2.86, with a volume of 1,068,107 shares trading hands.

Credit Suisse Asset Management Income Fund Trading Up 0.4%

The company’s 50-day moving average is $2.83 and its 200 day moving average is $2.91.

Credit Suisse Asset Management Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, January 26th. Investors of record on Friday, January 16th will be paid a $0.0225 dividend. This represents a c) annualized dividend and a dividend yield of 9.4%. The ex-dividend date is Friday, January 16th.

Hedge Funds Weigh In On Credit Suisse Asset Management Income Fund

A number of hedge funds have recently bought and sold shares of CIK. IMS Capital Management acquired a new stake in Credit Suisse Asset Management Income Fund in the second quarter valued at approximately $361,000. Shaker Financial Services LLC grew its stake 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 period. Bank of America Corp DE increased its holdings in Credit Suisse Asset Management Income Fund by 15.1% in the 2nd quarter. Bank of America Corp DE now owns 443,692 shares of the company’s stock worth $1,313,000 after acquiring an additional 58,250 shares in the last quarter. Fiera Capital Corp raised its position in 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 worth $628,000 after acquiring an additional 54,172 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Credit Suisse Asset Management Income Fund during the second quarter valued at $81,000. 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 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.