Carlyle Credit Income Fund (NYSE:CCIF) Stock Price Down 0.1% – Here’s Why

Carlyle Credit Income Fund (NYSE:CCIF)’s stock price was down 0.1% during mid-day trading on Wednesday . The company traded as low as $5.22 and last traded at $5.2350. Approximately 59,797 shares changed hands during trading, a decline of 66% from the average daily volume of 177,189 shares. The stock had previously closed at $5.24.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CCIF shares. Industrial Alliance Securities set a $6.50 price target on Carlyle Credit Income Fund in a report on Thursday, October 2nd. Alliance Global Partners started coverage on Carlyle Credit Income Fund in a report on Thursday, October 2nd. They set a “buy” rating on the stock. Finally, Zacks Research cut Carlyle Credit Income Fund from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 30th.

Carlyle Credit Income Fund Price Performance

The business has a 50-day moving average price of $5.58 and a 200 day moving average price of $6.05.

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

Carlyle Credit Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 21st will be given a $0.105 dividend. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a c) annualized dividend and a yield of 24.1%.

Hedge Funds Weigh In On Carlyle Credit Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its position in Carlyle Credit Income Fund by 34.4% in the 2nd quarter. Osaic Holdings Inc. now owns 17,135 shares of the company’s stock valued at $111,000 after acquiring an additional 4,388 shares in the last quarter. Icon Advisers Inc. Co. bought a new position in Carlyle Credit Income Fund in the 2nd quarter valued at approximately $124,000. J.W. Cole Advisors Inc. lifted its position in Carlyle Credit Income Fund by 16.3% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 219,480 shares of the company’s stock valued at $1,422,000 after acquiring an additional 30,808 shares in the last quarter. Wedbush Securities Inc. bought a new position in Carlyle Credit Income Fund in the 2nd quarter valued at approximately $69,000. Finally, AlphaQ Advisors LLC bought a new position in Carlyle Credit Income Fund in the 1st quarter valued at 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.