Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Shares Cross 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 Thursday . The stock has a 200-day moving average of $2.66 and traded as low as $2.45. Credit Suisse Asset Management Income Fund shares last traded at $2.46, with a volume of 625,234 shares trading hands.

Credit Suisse Asset Management Income Fund Stock Up 0.4%

The stock has a 50 day moving average price of $2.52 and a 200-day moving average price of $2.66.

Credit Suisse Asset Management Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, June 23rd. Investors of record on Monday, June 15th were given a dividend of $0.02 per share. This represents a c) dividend on an annualized basis and a yield of 9.8%. The ex-dividend date was Monday, June 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dynamic Advisor Solutions LLC grew its stake in shares of Credit Suisse Asset Management Income Fund by 6.3% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 63,840 shares of the company’s stock valued at $181,000 after purchasing an additional 3,759 shares during the period. Wells Fargo & Company MN increased its position in shares of 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 valued at $154,000 after purchasing an additional 7,113 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Credit Suisse Asset Management Income Fund by 1.4% in 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 period. Raymond James Financial Inc. bought a new position in shares of Credit Suisse Asset Management Income Fund in the 2nd quarter worth approximately $25,000. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of Credit Suisse Asset Management Income Fund in the fourth quarter worth approximately $29,000. 29.49% of the stock is 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.