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

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.62 and traded as low as $2.43. Credit Suisse Asset Management Income Fund shares last traded at $2.46, with a volume of 410,682 shares trading hands.

Credit Suisse Asset Management Income Fund Stock Performance

The company has a 50-day moving average of $2.49 and a 200 day moving average of $2.62.

Credit Suisse Asset Management Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 16th will be given a dividend of $0.02 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date is Thursday, July 16th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its position in 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. Shaker Financial Services LLC raised its position in Credit Suisse Asset Management Income Fund by 204.3% during 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. Fiera Capital Corp raised its position in Credit Suisse Asset Management Income Fund by 93.0% during 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 in the last quarter. Osaic Holdings Inc. lifted its stake in Credit Suisse Asset Management Income Fund by 2,110.1% during the fourth quarter. Osaic Holdings Inc. now owns 74,149 shares of the company’s stock worth $210,000 after purchasing an additional 70,794 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Credit Suisse Asset Management Income Fund by 15.1% during the second 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.

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.