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

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.57 and traded as low as $2.44. Credit Suisse Asset Management Income Fund shares last traded at $2.46, with a volume of 547,720 shares.

Credit Suisse Asset Management Income Fund Price Performance

The stock’s 50-day moving average price is $2.46 and its 200 day moving average price is $2.57.

Credit Suisse Asset Management Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be paid a $0.02 dividend. This represents a c) annualized dividend and a yield of 9.8%. The ex-dividend date is Monday, August 17th.

Hedge Funds Weigh In On Credit Suisse Asset Management Income Fund

Large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 valued at $4,254,000 after acquiring an additional 1,427,460 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in Credit Suisse Asset Management Income Fund in the second quarter valued at approximately $2,884,000. Shaker Financial Services LLC grew its stake in Credit Suisse Asset Management Income Fund by 204.3% in the second quarter. Shaker Financial Services LLC now owns 867,755 shares of the company’s stock valued at $2,152,000 after purchasing an additional 582,569 shares in the last quarter. Invesco Ltd. increased its position in shares of Credit Suisse Asset Management Income Fund by 1.4% during the 2nd quarter. Invesco Ltd. now owns 531,135 shares of the company’s stock worth $1,572,000 after purchasing an additional 7,463 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Credit Suisse Asset Management Income Fund by 15.1% during the 2nd quarter. Bank of America Corp DE now owns 443,692 shares of the company’s stock worth $1,313,000 after purchasing an additional 58,250 shares during the last quarter. 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.