Credit Suisse Asset Management Income Fund (NYSEAMERICAN:CIK) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN:CIK)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.52 and traded as low as $2.42. Credit Suisse Asset Management Income Fund shares last traded at $2.42, with a volume of 441,928 shares.

Credit Suisse Asset Management Income Fund Price Performance

The stock has a 50 day moving average price of $2.44 and a 200 day moving average price of $2.51.

Credit Suisse Asset Management Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be given a $0.02 dividend. The ex-dividend date is Wednesday, September 16th. This represents a c) annualized dividend and a yield of 10.0%.

Institutional Trading of Credit Suisse Asset Management Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in Credit Suisse Asset Management Income Fund by 1,886.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,503,121 shares of the company’s stock worth $4,254,000 after buying an additional 1,427,460 shares during the period. Landscape Capital Management L.L.C. acquired a new position in Credit Suisse Asset Management Income Fund in the 2nd quarter valued at approximately $2,884,000. Shaker Financial Services LLC increased its position in Credit Suisse Asset Management Income Fund by 204.3% in the 2nd quarter. Shaker Financial Services LLC now owns 867,755 shares of the company’s stock valued at $2,152,000 after acquiring an additional 582,569 shares during the period. Invesco Ltd. raised its stake in shares of Credit Suisse Asset Management Income Fund by 1.4% during the second quarter. Invesco Ltd. now owns 531,135 shares of the company’s stock valued at $1,572,000 after acquiring an additional 7,463 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of 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 valued at $1,313,000 after acquiring an additional 58,250 shares during the last quarter. 29.49% of the stock is currently owned by 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.