Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.82 and traded as low as $2.46. Credit Suisse Asset Management Income Fund shares last traded at $2.46, with a volume of 412,829 shares changing hands.

Credit Suisse Asset Management Income Fund Stock Performance

The business has a 50 day moving average of $2.71 and a 200-day moving average of $2.82.

Credit Suisse Asset Management Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 16th were given a dividend of $0.02 per share. The ex-dividend date was Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 9.8%.

Hedge Funds Weigh In On Credit Suisse Asset Management Income Fund

Institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. raised its position in Credit Suisse Asset Management Income Fund by 2,110.1% in the 4th 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. Wells Fargo & Company MN grew its position in Credit Suisse Asset Management Income Fund by 15.1% during the 4th quarter. Wells Fargo & Company MN now owns 54,361 shares of the company’s stock worth $154,000 after purchasing an additional 7,113 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Credit Suisse Asset Management Income Fund during the 2nd quarter worth $81,000. Jane Street Group LLC acquired a new position in Credit Suisse Asset Management Income Fund in the second quarter valued at $59,000. Finally, Compound Planning Inc. acquired a new position in Credit Suisse Asset Management Income Fund in the fourth quarter valued at $43,000. 29.49% of the stock is 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.