Carlyle Credit Income Fund (NYSE:CCIF) Stock Price Down 2.1% – Here’s Why

Carlyle Credit Income Fund (NYSE:CCIF) shares fell 2.1% during mid-day trading on Tuesday . The stock traded as low as $5.50 and last traded at $5.52. 111,955 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 179,076 shares. The stock had previously closed at $5.64.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CCIF. Industrial Alliance Securities set a $6.50 price target on Carlyle Credit Income Fund in a research note on Thursday, October 2nd. Zacks Research lowered Carlyle Credit Income Fund from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 30th. Finally, Alliance Global Partners began coverage on Carlyle Credit Income Fund in a research note on Thursday, October 2nd. They issued a “buy” rating on the stock.

Carlyle Credit Income Fund Price Performance

The business has a 50 day simple moving average of $5.66 and a 200-day simple moving average of $6.23.

Carlyle Credit Income Fund (NYSE:CCIF) last posted its quarterly earnings results on Tuesday, August 19th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.11. The firm had revenue of $8.61 million for the quarter, compared to the consensus estimate of $9.26 million.

Carlyle Credit Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st will be issued a $0.105 dividend. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a c) annualized dividend and a dividend yield of 22.8%.

Hedge Funds Weigh In On Carlyle Credit Income Fund

Large investors have recently modified their holdings of the company. Wedbush Securities Inc. purchased a new position in shares of Carlyle Credit Income Fund during the 2nd quarter valued at about $69,000. Avantax Advisory Services Inc. purchased a new position in shares of Carlyle Credit Income Fund during the 1st quarter valued at about $84,000. Virtu Financial LLC purchased a new position in shares of Carlyle Credit Income Fund during the 1st quarter valued at about $85,000. Osaic Holdings Inc. raised its holdings in shares of Carlyle Credit Income Fund by 34.4% during the 2nd quarter. Osaic Holdings Inc. now owns 17,135 shares of the company’s stock valued at $111,000 after buying an additional 4,388 shares in the last quarter. Finally, AlphaQ Advisors LLC bought a new position in Carlyle Credit Income Fund during the 1st quarter worth approximately $123,000.

About Carlyle Credit Income Fund

Carlyle Credit Income Fund is a close ended fixed income mutual fund launched and managed by Vertical Capital Asset Management, LLC. The fund is co – managed by Behringer Advisors, LLC. The Fund invests mainly in fixed-income securities. The fund invests in stocks of companies operating across diversified sectors.