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

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.62 and traded as low as $2.43. Credit Suisse Asset Management Income Fund shares last traded at $2.46, with a volume of 410,682 shares changing hands.

Credit Suisse Asset Management Income Fund Price Performance

The firm’s 50 day moving average price is $2.49 and its two-hundred day moving average price is $2.62.

Credit Suisse Asset Management Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 16th will be paid a $0.02 dividend. This represents a c) dividend on an annualized basis and a yield of 9.8%. The ex-dividend date is Thursday, July 16th.

Hedge Funds Weigh In On Credit Suisse Asset Management Income Fund

Several hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in Credit Suisse Asset Management Income Fund during the 2nd quarter valued at about $25,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Credit Suisse Asset Management Income Fund in the fourth quarter worth about $29,000. One Capital Management LLC bought a new position in shares of Credit Suisse Asset Management Income Fund in the fourth quarter valued at approximately $38,000. Compound Planning Inc. bought a new position in shares of Credit Suisse Asset Management Income Fund in the fourth quarter valued at approximately $43,000. Finally, Jane Street Group LLC purchased a new position in Credit Suisse Asset Management Income Fund during the second quarter valued at approximately $59,000. 29.49% of the stock is currently owned by hedge funds and other institutional investors.

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.