Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Shares of Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.69 and traded as low as $2.44. Credit Suisse Asset Management Income Fund shares last traded at $2.48, with a volume of 639,760 shares.

Credit Suisse Asset Management Income Fund Trading Up 1.2%

The firm has a fifty day moving average price of $2.55 and a 200-day moving average price of $2.69.

Credit Suisse Asset Management Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 15th will be issued a $0.02 dividend. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 9.7%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its stake 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 worth $4,254,000 after acquiring an additional 1,427,460 shares in the last quarter. Fiera Capital Corp boosted its holdings in Credit Suisse Asset Management Income Fund by 93.0% in the fourth quarter. Fiera Capital Corp now owns 413,905 shares of the company’s stock valued at $1,171,000 after purchasing an additional 199,448 shares during the last quarter. Shaker Financial Services LLC boosted its holdings in Credit Suisse Asset Management Income Fund by 190.9% in the fourth quarter. Shaker Financial Services LLC now owns 152,270 shares of the company’s stock valued at $431,000 after purchasing an additional 99,934 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in Credit Suisse Asset Management Income Fund by 2,110.1% in the fourth quarter. Osaic Holdings Inc. now owns 74,149 shares of the company’s stock valued at $210,000 after purchasing an additional 70,794 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Credit Suisse Asset Management Income Fund by 15.1% in the second quarter. Bank of America Corp DE now owns 443,692 shares of the company’s stock valued at $1,313,000 after purchasing an additional 58,250 shares during the last quarter. 29.49% of the stock is owned by hedge funds and other institutional investors.

Credit Suisse Asset Management Income Fund Company Profile

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.