Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Shares Pass Below 200-Day Moving Average – What’s Next?

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.86 and traded as low as $2.67. Credit Suisse Asset Management Income Fund shares last traded at $2.67, with a volume of 313,143 shares traded.

Credit Suisse Asset Management Income Fund Stock Performance

The firm’s 50 day moving average is $2.81 and its two-hundred day moving average is $2.86.

Credit Suisse Asset Management Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 17th were issued a $0.0225 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a c) annualized dividend and a dividend yield of 10.1%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of Credit Suisse Asset Management Income Fund during the second quarter worth about $25,000. Concurrent Investment Advisors LLC bought a new stake in Credit Suisse Asset Management Income Fund during the 4th quarter worth approximately $29,000. World Investment Advisors acquired a new stake in Credit Suisse Asset Management Income Fund during the 3rd quarter worth approximately $32,000. Tactive Advisors LLC bought a new position in Credit Suisse Asset Management Income Fund in the second quarter valued at approximately $37,000. Finally, One Capital Management LLC bought a new position in Credit Suisse Asset Management Income Fund in the fourth quarter valued at approximately $38,000. 29.49% of the stock is owned by institutional investors and hedge funds.

About Credit Suisse Asset Management Income Fund

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.