Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.74 and traded as low as $2.54. Credit Suisse Asset Management Income Fund shares last traded at $2.56, with a volume of 746,410 shares.

Credit Suisse Asset Management Income Fund Stock Up 1.2%

The firm’s fifty day simple moving average is $2.58 and its 200 day simple moving average is $2.74.

Credit Suisse Asset Management Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 15th will be given a $0.02 dividend. This represents a c) annualized dividend and a dividend yield of 9.3%. The ex-dividend date is Friday, May 15th.

Hedge Funds Weigh In On Credit Suisse Asset Management Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIK. Raymond James Financial Inc. purchased a new stake in shares of Credit Suisse Asset Management Income Fund in the second quarter valued at $25,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Credit Suisse Asset Management Income Fund in the fourth quarter worth $29,000. One Capital Management LLC purchased a new position in shares of Credit Suisse Asset Management Income Fund during the fourth quarter valued at $38,000. Compound Planning Inc. purchased a new position in shares of Credit Suisse Asset Management Income Fund during the fourth quarter valued at $43,000. Finally, Jane Street Group LLC purchased a new stake in Credit Suisse Asset Management Income Fund in the 2nd quarter worth about $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.