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

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK)’s stock price passed 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 changing hands.

Credit Suisse Asset Management Income Fund Trading Down 0.7%

The business has a fifty day moving average price of $2.83 and a 200 day moving average price of $2.88.

Credit Suisse Asset Management Income Fund Dividend Announcement

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

Hedge Funds Weigh In On Credit Suisse Asset Management Income Fund

A number of hedge funds have recently modified their holdings of the stock. Shaker Financial Services LLC boosted 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 worth $907,000 after purchasing an additional 97,243 shares during the period. Fiera Capital Corp raised its stake in shares of Credit Suisse Asset Management Income Fund by 93.0% during the 4th quarter. Fiera Capital Corp now owns 413,905 shares of the company’s stock worth $1,171,000 after purchasing an additional 199,448 shares in the last quarter. One Capital Management LLC acquired a new stake in Credit Suisse Asset Management Income Fund in the fourth quarter valued at approximately $38,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Credit Suisse Asset Management Income Fund by 1,886.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,503,121 shares of the company’s stock worth $4,254,000 after purchasing an additional 1,427,460 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of Credit Suisse Asset Management Income Fund during the 4th quarter valued at about $29,000. 29.49% of the stock is currently 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.